North Korea denied on Tuesday that it was behind the record Binance hack, calling FBI allegations "absurd rhetoric" as it test-fired cruise missiles. The FBI said on Saturday that the North Korea-affiliated hacking group TraderTraitor was responsible for the Binance hack, according to Euronews.
Kim Yo-jong, sister of leader Kim Jong-un, called the FBI claim "absurd rhetoric and nothing new" and a "grave political provocation", according to Euronews. The FBI, Secret Service and cyber analysts have said North Korea orchestrated the hack, which has been described as the largest in history, according to BBC World.
The size of the theft is reported differently by different outlets. Euronews and DW report it as $6 billion (5.3 billion euros or more), while BBC World reports a record $6.3bn (£4.7bn). The sources do not explain the difference.
Binance said a net $4.72bn had been withdrawn from the exchange since transactions resumed on Sunday, according to BBC World. The company described this as a "relatively limited portion" of its roughly $157bn in total assets. Binance has also said it has covered around 95% of the assets stolen in the breach. That recovery figure is Binance’s own claim, and no independent confirmation appears in the sources.
North Korea’s Monday launch involved strategic cruise missiles fitted with a new cluster-munition warhead, according to KCNA, as reported on Tuesday by Euronews. DW also covered the missile details. The BBC piece does not cover the launch. South Korea’s military did not announce the launch; its Joint Chiefs spokesperson said the launch was being analysed.
South Korean President Lee Jae-myung called for a comprehensive prevention system to address the cybersecurity crisis after the hack, according to Euronews.
TraderTraitor, also known as the Lazarus Group, was blamed for a then-record $1.5bn hack of crypto exchange Bybit in 2025. A 2024 United Nations report said proceeds from North Korean cyberattacks had reportedly helped fund its weapons of mass destruction development. Unlike ballistic missile launches, North Korean cruise missile tests are not prohibited by UN Security Council sanctions.
Binance did not respond to BBC queries about North Korea’s alleged involvement in the hack. No US government response to Kim Yo-jong’s denial appears in the sources.
The FBI has asked industry partners to help block transactions linked to TraderTraitor accounts. Binance is restarting withdrawals for more assets from 04:00 GMT on Tuesday. South Korea and the US are analysing the missile test.
The main gaps are Binance’s unverified recovery figure, the unresolved difference in the reported size of the theft, and the absence of a US response to North Korea’s denial.
Sources
This article was written with AI assistance from the published reporting listed above. It is part of the World Brief daily news podcast.