North Korea Rejects US Claims It Was Behind $6 Billion Binance Crypto Theft
Kim Yo Jong, the influential sister of North Korean leader Kim Jong Un, on Tuesday denied US allegations that Pyongyang stole more than $6 billion from the Binance exchange. She warned that North Korea has “issues to reconsider”.
North Korea on Tuesday rejected US allegations that it was responsible for the theft of more than $6 billion in cryptocurrency from Binance, the world's largest crypto exchange. The statement, carried by state news agency KCNA, came from Kim Yo Jong, a ruling party official and the influential sister of leader Kim Jong Un. She called the claims “absurd rhetoric”.
What the US alleges
The US Federal Bureau of Investigation (FBI) said at the weekend that North Korea was behind the theft, which could be the largest financial heist ever. The FBI attributed the attack to members of a North Korean state-sponsored unit known as TraderTraitor. Law enforcement had observed the group converting the stolen assets into the cryptocurrency Ethereum and expected it to launder them further. Binance has said it covered most of the stolen assets with company funds.
Pyongyang's response
Kim Yo Jong said the FBI was trying to brand North Korea a “cybercriminal state” on the basis of information that a hacking group “supported” by the country was involved. She described the move as a grave political provocation and said Washington was misleading international opinion by presenting all cybercrimes around the world as North Korean deeds.
She also warned that North Korea had “issues to reconsider” in light of what she called a very unpleasant US hostile attitude, without giving details. Pyongyang has so far not publicly answered US President Donald Trump's offers to resume summit diplomacy, and experts say it may be weighing its options.
Background
Cybersecurity experts say North Korean hackers are among the world's most prolific crypto thieves and that the proceeds help fund the country's weapons programmes. North Korea denies any links to cryptocurrency theft and other cybercrime. It is one of the world's poorest countries, but has channelled resources obtained through illicit means and activities banned under UN Security Council resolutions into its ballistic missile and nuclear weapons programmes.
