North Korea denies being behind record $6.3bn Binance hack

Published3 November 2026, 00:56 GMT

North Korea has denied claims that it was behind the record $6.3bn (£4.7bn) hack of cryptocurrency exchange Binance, calling the allegations "absurd rhetoric".

Kim Yo Jong, a top Democratic People's Republic of Korea official and the sister of leader Kim Jong Un, said on Tuesday that the accusations are another "sinister attempt" by the US to damage Pyongyang's public image.

The US Federal Bureau of Investigation (FBI), the Secret Service and cyber analysts have said North Korea orchestrated the hack, which has been described as the largest in history.

This is the latest hack to be linked to North Korea, which has been accused of relying on cyber-crime to help finance its sanctioned economy.

Blockchain analysts and the FBI have said the attack was led by state-backed hacking group TraderTraitor.

The FBI has called on industry partners to help block transactions involving cryptocurrency accounts linked to the group.

"The US has made a trite provocation of linking it with the Democratic People's Republic of Korea again," Kim Yo-jong, the director of North Korea's General Affairs Department, said in a statement.

"It is a grave political provocation against the DPRK that the US misleads the international public opinion as if all the cyber crimes in different parts of the world are our deeds," she said.

Why North Korea's 'elite' hackers are the prime suspect in major Binance hack

• Published3 days ago

Why North Korea's 'elite' hackers are the prime suspect in major Binance hack

Published3 days ago

Who could be behind the Binance hack and what we know so far

• Published4 days ago

Who could be behind the Binance hack and what we know so far

Published4 days ago

But Pyongyang has been blamed for a number of major cyber attacks in recent years - accusations that it has denied.

The TraderTraitor unit, which is also known as the Lazarus Group, was blamed for a then-record $1.5bn hack of crypto exchange Bybit in 2025.

Pyongyang has systematically built its cyber operations, recruiting promising students from universities and sending them to hacker units overseen by North Korea's intelligence agency, research groups like the S Rajaratnam School of International Studies think tank have said.

The country has consistently denied such claims.

Kim Yo Jong said "it is the consistent policy stand of the DPRK government to resolutely oppose all sorts of malicious acts in cyberspace".

Kim Yo-jong: North Korea's heir apparent?

• Published16 June 2020

Kim Yo-jong: North Korea's heir apparent?

Published16 June 2020

Who is Kim Yo-jong? Video, 00:02:32Who is Kim Yo-jong?

• Published16 June 2020

Who is Kim Yo-jong? Video, 00:02:32Who is Kim Yo-jong?

Published16 June 2020

Binance did not respond to the BBC's queries about North Korea's alleged involvement in the hack.

Since the incident, the crypto giant has largely focused its public statements on the technical nature of the breach and its response to protect users.

The company's spokesperson said that a net $4.72bn has been withdrawn from the exchange since transactions resumed on Sunday.

The net outflow represents a "relatively limited portion" of Binance's total assets, which stand at approximately $157bn, the spokesperson told the BBC on Tuesday.

That figure reflects the impact of the hack, subsequent withdrawals and market price changes.

"Withdrawal levels are stabilising to what we would consider normal and expected on-chain activity," she added.

The company said last week that initial checks indicated that an engineer's laptop had been compromised, enabling an attacker to make unauthorised withdrawals.

Trading in major cryptocurrencies on Binance has since resumed after the exchange worked with issuers to freeze assets impacted by the hack.

The company has repeatedly said it would cover all of the losses linked to the attack and that it has so far covered around 95% of the assets stolen in the breach.

Related topics

International Business

North Korea

Kim Jong Un

Cyber-crime

Cryptocurrency