North Korea denies being behind record $6.3bn Binance hack
Kim Yo Jong calls US allegations 'absurd rhetoric' and a political provocation
Quick Look
North Korea denies responsibility for the record $6.3bn Binance cryptocurrency hack, with Kim Yo Jong calling US allegations absurd rhetoric and a political provocation, while the FBI, Secret Service, and blockchain analysts say state-backed group TraderTraitor orchestrated the largest hack in history.
AI-generated summary
Why It Matters
North Korea has been accused of relying on cyber-crime to help finance its sanctioned economy, and this is the latest hack linked to the country.
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.
What to Watch
AI outlook — possibilities, not facts
The FBI and industry partners will attempt to block transactions involving cryptocurrency accounts linked to TraderTraitor.
Likely · Within days
Open Questions
- What specific evidence does the FBI have linking TraderTraitor to the Binance hack?
- How much of the stolen $6.3bn has been recovered or blocked?
- What actions will industry partners take to block transactions involving the linked cryptocurrency accounts?
