Binance Faces $6 Billion Hit as North Korea Rejects FBI Blame

North Korea rejected US allegations on Tuesday that it was responsible for stealing more than $6 billion in cryptocurrency from Binance. Kim Yo Jong, the sister of North Korean leader Kim Jong Un and a ruling party official, dismissed the claim as "absurd rhetoric" in remarks carried by the state news agency KCNA. She described the accusation as continued hostility from Washington and a political provocation.

The FBI announced over the weekend that North Korea was behind the theft. The bureau attributed the attack to members of TraderTraitor, a unit it described as sponsored by the North Korean state. The loss of over $6 billion in virtual assets could make this the biggest financial heist ever recorded. Law enforcement officials reported that those involved were converting the stolen assets into Ethereum. The FBI said it expected further efforts to launder the funds.

Binance stated it had used its own money to cover most of the assets taken from the platform. This move aims to stabilize user confidence following the massive breach. The exchange remains the world's largest cryptocurrency platform.

In her statement, Kim Yo Jong accused the FBI of attempting to label North Korea a "cybercriminal state." She challenged the US position that a hacking organization supported by Pyongyang carried out the theft. Kim also argued that Washington misleads international opinion by presenting global cybercrimes as North Korea's responsibility. Pyongyang routinely denies allegations connecting it to cryptocurrency theft or other cybercrime.

Cybersecurity experts describe North Korean hackers as among the most active cryptocurrency thieves globally. They note that the proceeds from such thefts help fund North Korea's weapons programs. Despite being one of the world's poorest countries, North Korea has directed resources obtained through illicit means into its ballistic missile and nuclear weapons programs. These activities are often prohibited by UN Security Council resolutions.

The dispute occurs as Pyongyang has made no public response to US President Donald Trump's offers to restart summit diplomacy. In her statement, Kim said North Korea had "issues to reconsider" due to Washington's hostile attitude. She did not identify the specific matters under review. Her warning left the implications for diplomatic engagement unspecified.

The FBI continues to track the movement of the stolen assets. Binance monitors the market for further signs of the stolen funds. The US government maintains its position that the theft was state-sponsored.