North Korea rejected US claims that it was behind the theft of more than US$6bil (RM24.45bil) in cryptocurrency from Binance, after the FBI blamed an elite team of Pyongyang’s hackers for the biggest crypto heist on record.
The US assertion that North Korea is responsible for the Binance attack is "absurd rhetoric and nothing new,” Kim Yo Jong, the sister of North Korean leader Kim Jong Un, said in a statement carried by the official Korean Central News Agency on Nov 3.
North Korean hackers have previously been blamed by US authorities and cybersecurity experts for some of the world’s biggest crypto thefts, including the US$1.5bil (RM6.11bil) Bybit attack last year and the 2022 theft of about US$620mil (RM2.52bil) in cryptocurrency.
The rebuttal came after the FBI said on Oct 31 that North Korea was behind the theft of more than US$6bil (RM24.45bil) in virtual assets from Binance on or around Oct 29. The agency identified the operation as being linked to TraderTraitor, a North Korean hacking group previously linked to other spectacular cryptocurrency heists.
"It is a grave political provocation against the DPRK that the US misleads the international public opinion as if all the cyber crimes in different parts of the world are our deeds,” the statement said, referring to North Korea by its official name.
The FBI said it has observed the hackers converting stolen assets primarily into Ethereum and expects them to use decentralised-finance platforms and instant-swap services to further launder funds. US authorities have urged crypto exchanges, blockchain operators and other virtual-asset providers to block transactions linked to addresses used to remove the stolen assets.
Referring to US accusations, Kim Yo Jong said "the very unpleasant US hostile attitude” is pushing Pyongyang to reconsider issues "in diverse aspects.” She did not elaborate further.
The Binance hack has sent shockwaves through the crypto industry and has renewed scrutiny of the security risks facing an industry seeking broader acceptance among mainstream investors.
It took place as President Donald Trump in recent weeks has floated new US outreach to North Korea, suggesting that a potential meeting with its leader could happen this year. Earlier this month, however, Trump downplayed those expectations, saying he was "not sure that anybody’s asking for a meeting.”
The North Korean statement "appears aimed at preventing cyber theft from becoming either a precondition for engagement or a source of pressure on Pyongyang,” said Hong Min, a researcher at the Korea Institute for National Unification in Seoul.
"By framing the move as a reaffirmation of Washington’s hostile stance, North Korea is preemptively laying the groundwork to blame the US should any potential engagement fail,” Hong added. – Bloomberg
