North Korea Binance Theft Claim Rejected by Pyongyang
North Korea has rejected a United States allegation that it was behind the theft of more than $6 billion in virtual assets from the Binance exchange. Kim Yo Jong, the sister of North Korean leader Kim Jong Un, called the claim absurd rhetoric and a grave political provocation.
The statement, carried by the state news agency KCNA on Tuesday, November 3, followed a weekend announcement by the Federal Bureau of Investigation. The FBI said North Korea was responsible for the theft of more than $6 billion in virtual assets from Binance, the largest cryptocurrency exchange in the world, on or about October 29, 2026.
Kim said the FBI was trying to brand North Korea as a cyber criminal state. She said the agency claimed that a hacking group supported by Pyongyang was involved in the incident.
“The US assertion is absurd rhetoric and nothing new,” Kim said in the statement. She accused Washington of routinely blaming North Korea for major international cyberattacks without providing credible evidence.
Kim also said the allegation was a grave political provocation. She said the United States misleads international public opinion by suggesting that cybercrimes committed in different parts of the world were the work of Pyongyang.
North Korea Binance theft claim follows FBI statement
The FBI linked the theft to a North Korean hacking operation it calls TraderTraitor. The agency said it had observed the hackers converting the stolen assets mainly into Ethereum. It also warned cryptocurrency firms to block transactions linked to wallets tied to the group.
Reports put the scale of the theft at about $6.3 billion. Blockchain analysts estimated that about $6.36 billion moved from Binance wallets across 10 blockchains, with most of the transfers completed within about 20 minutes. If confirmed, the theft would rank as the largest cryptocurrency heist on record.
Binance has since said that customer outflows from the exchange have returned to normal. Its co-chief executive said the company was in very strong financial health. Customers had withdrawn a net $4.72 billion as of Monday after the exchange reopened following the attack.
North Korea has denied past accusations of state-backed cyberattacks. Washington has accused North Korean hacking groups of stealing digital assets to fund the weapons programme of the country. Kim cited the earlier case of the Bybit exchange, where about $1.5 billion was stolen last year, and said the United States had blamed Pyongyang in that case too.
Why the denial matters now
The denial carries weight because North Korea rarely responds in public to accusations of cybercrime. Analysts noted that Kim chose to answer this time, in a detailed statement, at a moment when Washington has been seeking a return to summit diplomacy with Pyongyang.
Kim said North Korea had not answered recent offers from United States President Donald Trump to resume summit talks. She warned that the hostile attitude of the United States could prompt Pyongyang to reconsider its position on several issues. She did not spell out which issues she meant.
Kim also suggested that Washington could gain from recovering stolen cryptocurrency. She referred to United States plans to build a strategic cryptocurrency reserve. The remark pointed to a motive, in her argument, behind the allegation.
For readers in Pakistan, the case is a direct follow-up to the original FBI announcement, as reported here: FBI Blames North Korea Binance Hack. Feature Pakistan also reported that Binance covered the losses and reopened after the breach: Binance hack losses covered at $6bn, reopening due Sunday. The breach has already fed a debate in Pakistan about oversight of digital assets, with calls for a formal industry body, as reported here: Pakistan Crypto Industry Body Urged After Breach.
Analysts say the wider stakes go beyond one exchange. Blockchain analytics firm Elliptic estimated that North Korean hackers have stolen $7.6 billion in cryptocurrency this year, more than in any earlier year. The FBI warning, the scale of the Binance theft and the public denial together show how central crypto theft has become to the dispute between Washington and Pyongyang.
What happens next
The FBI has urged firms to block suspect wallets, while Binance works to win back users after the outflows. Pyongyang has said it is watching United States actions closely. No new talks between Washington and Pyongyang have been announced, and the denial leaves the diplomatic opening, if one exists, in doubt.
Frequently asked questions
What did North Korea deny?
North Korea denied the FBI allegation that it was behind the theft of more than $6 billion in virtual assets from Binance on or about October 29, 2026.
Who issued the denial?
Kim Yo Jong, the sister of leader Kim Jong Un and a senior Workers Party official, issued the statement carried by KCNA.
What did the FBI allege?
The FBI said a North Korean hacking operation it calls TraderTraitor was responsible for the theft, and it warned firms to block linked wallets.
How large was the Binance theft?
Reports put the theft at about $6.3 billion, which would make it the largest cryptocurrency heist on record.
Why does the case matter for Pakistan?
Pakistani users trade on Binance, and the breach has already fed debate in Pakistan about oversight of digital assets and the need for a formal industry body.
