The Central Report

North Korea Denies U.S. Claims Linking State Hackers to $6.3B Binance Heist

North Korea Denies U.S. Claims Linking State Hackers to $6.3B Binance Heist
Nov. 3, 2026 | Updated 6:57 am GMT
Pyongyang has rejected U.S. allegations linking state-backed hackers to the record $6.3 billion cyber heist targeting cryptocurrency exchange Binance, dismissing the claims as a political smear.
The pushback follows formal attributions from the FBI and private blockchain intelligence firms pointing to North Korea’s TraderTraitor cyber unit. Investigators stated the network was responsible for draining the transaction-processing wallets in what stands as the largest digital asset theft on record.
In a sharp statement issued through state media, high-ranking official Kim Yo Jong condemned Washington’s accusations. She accused the U.S. government of fabricating the narrative to deliberately damage North Korea’s reputation and paint the nation as a criminal state.
The October 29 exploit bypassed traditional security layers through multiple breach points, forcing Binance to temporarily freeze operations. While blockchain partners and stablecoin issuers managed to freeze roughly $3 billion of the stolen funds, the scale of the breach sent shockwaves through global financial markets.
Binance reported that users withdrew approximately $3.6 billion in assets after the exchange resumed standard withdrawal services. Executives confirmed the platform utilized corporate reserves to cover the missing balances, ensuring customer holdings remained fully backed.
U.S. law enforcement agencies maintain that the methods used in the Binance exploit mirror previous operations tied to North Korea’s state-sponsored hacking ecosystem. Pyongyang has routinely denied involvement in major international cryptocurrency thefts, including the 2025 Bybit breach.

Technology and innovation reporter focusing on Nigeria's startup ecosystem, fintech disruption, and tech regulation. 6 years in tech journalism.

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