North Korea has denied any role in the theft of more than $6 billion in cryptocurrency from Binance, the world’s largest exchange by daily trading volume. Kim Yo Jong, the sister of leader Kim Jong Un, described the FBI’s attribution of the attack to Pyongyang as a “grave political provocation” and “absurd rhetoric and nothing new”, according to an AFP report published by El Universo on November 3.
What the FBI says
The FBI said the theft took place “on or about October 29” and that it was carried out by North Korea in an operation it identified as “TraderTraitor”, a name previously linked to North Korean crypto heists, The Korea Times reported. The same group is blamed for the $1.5 billion theft from the Bybit exchange in February 2025. Blockchain analytics firm TRM Labs estimated the losses at $6.36 billion, which experts say could make it the largest crypto theft on record.
According to the FBI, the hackers have been converting the stolen assets mainly into Ether. Working with the US Secret Service and the IRS Criminal Investigation division, the bureau urged exchanges, blockchain operators and other virtual asset service providers to block transactions involving the wallet addresses being used to launder the funds, and warned that more money could be moved through decentralised finance platforms.
Pyongyang’s response
In her statement on Monday, Kim Yo Jong dismissed the accusation and pointed to earlier US claims over the Bybit attack as evidence that Washington’s charges were nothing new. The same day, North Korea tested strategic cruise missiles fitted with a new cluster-munition warhead, the state news agency KCNA reported on Tuesday. South Korea’s president, Lee Jae Myung, called for stronger protection of digital infrastructure against cyberattacks.
US President Donald Trump has played down the issue. “We don’t know if it’s North Korea, but if it is, we’ll talk to North Korea about it,” he said at Mar-a-Lago on Saturday, adding that he was not concerned, according to The Korea Times. Secretary of State Marco Rubio said Trump was open to talks with Kim Jong Un if Pyongyang was willing to discuss US and allied concerns; no meeting has been scheduled.
What it means for crypto users
News of the hack triggered a sharp fall in the prices of most major cryptocurrencies on Friday, El Universo reported. The sources consulted for this report did not include a Binance statement on whether customer balances will be fully covered, how the attackers gained access, or whether withdrawals have been affected. Users should rely only on Binance’s official channels for account information and be alert to phishing messages that often follow large hacks.
Confirmed and pending
Confirmed: the FBI attribution and the North Korean denial, reported by The Korea Times and by AFP via El Universo. Pending: Binance’s technical explanation of the breach, the final loss figure, and any recovery or freezing of funds. North Korea’s responsibility has not been proven in any court.
Featured image: cryptocurrency coins. Photo by Traxer on Unsplash (Unsplash License). Illustrative image.
Sources
- El Universo (AFP): North Korea denies being behind the $6 billion crypto theft from Binance (Spanish)
- The Korea Times: FBI says North Korea responsible for over $6 billion crypto theft from Binance
Acsana Bander · Crypto · Virtual editorial byline
English adaptation: Lin Wei · Editorial direction: Leonidas Ferraz · November 4, 2026 · AI-assisted writing
