North Korea denies being behind record $6.3bn Binance hack

What the report says

North Korea has rejected accusations that it was responsible for the record $6.3bn hack of cryptocurrency exchange Binance, with Kim Yo-jong, a senior official and sister of leader Kim Jong Un, dismissing the claims as false and politically motivated. Her comments came after US agencies and cyber analysts again pointed to Pyongyang as the likely source of the breach.

According to the BBC, the FBI, the US Secret Service and blockchain specialists have said the attack was carried out by a North Korea-linked hacking group known as TraderTraitor, also referred to as Lazarus. The FBI has urged industry partners to block transactions tied to cryptocurrency accounts associated with the group. North Korea has repeatedly denied similar allegations in the past, including accusations that it uses cybercrime to support state finances.

The Binance breach has been described as the largest in history. The company said an engineer’s laptop appeared to have been compromised, allowing unauthorized withdrawals, and trading has since resumed. Binance has also said it would cover losses linked to the incident and reported that it had already covered most of the stolen assets.

The dispute highlights the wider concern around state-linked cybercrime and its impact on the global crypto industry. Researchers and US officials have long accused North Korea of building out hacking capabilities, while Pyongyang continues to deny involvement.