North Korea denies Binance hack link, calls FBI probe 'provocation'

North Korea has denied its involvement in the recent cryptocurrency heist at Binance, dismissing the U.S. announcement linking the attack to North Korean hackers as 'a trite provocation.'

Binance, the world’s largest cryptocurrency exchange, reported that hackers stole more than $6 billion in what appears to be the largest cryptocurrency heist on record. The FBI later attributed the theft to a hacking group known as TraderTraitor.

Kim Yo Jong, the influential sister of North Korean leader Kim Jong Un, criticized the FBI’s announcement as 'a trite provocation' and 'an absurd rhetoric,' stating that the U.S. has repeatedly linked North Korea to cyber crimes without evidence.

Outside experts note that North Korea has increasingly turned to cryptocurrency theft and other illicit cyber activities as a source of foreign currency, particularly amid stringent U.S.-led sanctions. South Korea’s spy agency estimated in December 2022 that North Korean hackers had stolen 1.5 trillion won ($1.1 billion) in cryptocurrency over the previous five years.

Despite mostly denying involvement, North Korea has been linked to numerous major cyberattacks in the past, including the 2013 campaign that paralyzed South Korean financial institutions and the 2014 hacking of Sony Pictures.

South Korea’s Foreign Ministry stated that North Korea’s illicit cyber activities pose an increasing threat to the global digital economy and that Seoul is cooperating with the U.S. and other nations to address the issue.