North Korea has strongly denied allegations that it orchestrated a massive US$6.3 billion cyberattack against cryptocurrency exchange Binance, an incident described as the largest digital asset theft in cryptocurrency history.
Kim Yo-jong, the sister of North Korean leader Kim Jong Un, rejected the accusations on Tuesday, accusing the United States of attempting to damage Pyongyang’s international reputation. Her response followed allegations by the Federal Bureau of Investigation (FBI), the US Secret Service and cybersecurity analysts linking the attack to North Korean-backed hackers.
US investigators have attributed the cyberattack to TraderTraitor, a hacking group associated with the notorious Lazarus Group. Authorities have urged cryptocurrency companies to help identify and block transactions involving digital wallets allegedly connected to the group. North Korea, however, maintains that it opposes malicious cyber activities and denies involvement in cryptocurrency theft.
According to Binance, preliminary investigations revealed that a company engineer’s laptop had been compromised, enabling hackers to make unauthorised withdrawals. The exchange temporarily suspended transactions before restoring major cryptocurrency trading services. Following the reopening, customers reportedly withdrew more than US$3.6 billion, reflecting concerns over the platform’s security.
Binance has pledged to compensate affected customers for losses resulting from the incident and reported that approximately 95% of the stolen assets had been replaced. The case has intensified scrutiny of cryptocurrency security and allegations of state-sponsored cybercrime, although North Korea continues to reject responsibility for the attack.
