North Korea has rejected an FBI allegation that it was behind a major hack targeting cryptocurrency exchange Binance. In a statement carried by state news agency KCNA, Kim Yo Jong described the claim as “absurd rhetoric” and said it was nothing new, pointing to previous US accusations that North Korea was responsible for a major attack on crypto exchange Bybit last year.
The FBI identified the TraderTraitor group as responsible for the Binance attack and said it had links to Pyongyang’s intelligence service. Kim accused the United States of misleading the international public by suggesting that cybercrimes around the world were all the work of North Korea.
Binance announced the attack on Thursday. Most cryptocurrency prices fell sharply on Friday, and the exchange, which says it has 335 million users, temporarily suspended withdrawals.
Michael Bosack of the Parley Policy Institute said North Korea’s response reflected the significant international attention the incident had attracted. He said the denial was intended to keep open channels through which the country could continue laundering and using cryptocurrency.
A 2024 United Nations report said proceeds from North Korean cyberattacks had reportedly helped fund the country’s development of weapons of mass destruction. North Korea is subject to extensive sanctions over its nuclear and missile programs.
Before the FBI’s statement, blockchain analytics firm TRM Labs had also identified TraderTraitor as a suspect. The group is linked to the Lazarus hacking network and has been blamed for stealing $1.5 billion from Bybit in February 2025. Lazarus was also accused of hacking Sony Pictures’ systems in 2014 in retaliation for the film “The Interview,” which mocked North Korean leader Kim Jong Un.
Sources: FAZ.