The country's officials have dismissed the allegations as "absurd rhetoric and accused the US of attempting to damage North Korea's public image through a series of sinister attempts. Kim Yo-jong, a top official and sister of leader Kim Jong Un, made this claim on Tuesday.

This is not the first time Pyongyang has been linked to major cyber attacks, which it consistently denies. The latest hack, described as the largest in history, was attributed to state-backed hacking group TraderTraitor by blockchain analysts and the FBI.

The US Federal Bureau of Investigation (FBI), the Secret Service and cyber analysts have pointed fingers at North Korea for orchestrating the record-breaking Binance hack.

North Korea's official stance on the Binance hack remains unchanged despite mounting evidence pointing to its involvement.

The country's foreign affairs chief Kim Yo-jong has spoken out against accusations that North Korean hackers are responsible for the record-breaking cyber attack on Binance. According to reports, she described the claims as a grave political provocation" and stated that Pyongyang is committed to opposing malicious acts in cyberspace.

North Korea's cyber capabilities have been under scrutiny in recent years, with many attributing several high-profile hacks to the country's elite hackers. The Lazarus Group, also known as the TraderTraitor unit, has been linked to a major hack of crypto exchange Bybit in 2025, which resulted in losses of over $1.5 billion.

Research groups have shed light on North Korea's systematic approach to building its cyber operations, with promising students being recruited from universities and sent to hacker units overseen by the country's intelligence agency.

North Korea's involvement in high-profile cyber attacks has been a topic of speculation following the massive $6.3bn Binance hack, but the country has consistently denied any role in the incident.

Binance has largely avoided pointing fingers at North Korea, instead focusing on the technical aspects of the breach and its efforts to protect users. The company's initial investigation suggested that an engineer's laptop was compromised, allowing unauthorized access to sensitive information.

In response to the hack, Binance worked closely with issuers to freeze assets affected by the attack, allowing trading in major cryptocurrencies to resume once again. Despite covering around 95% of stolen assets, the exchange still faces a significant financial burden from the breach.

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The heist is believed to be linked to North Korea, according to experts who have analyzed the situation. This cyber attack has sent shockwaves through the cryptocurrency world, with investors and users scrambling to understand the full extent of the breach.

As a precautionary measure, Binance initially suspended withdrawals while it investigated the hack. However, on Sunday, the platform announced that it had begun to gradually reopen its withdrawal services. By Sunday afternoon, the exchange had processed $4.6 billion in withdrawals and $1 billion in deposits.

A net outflow of about $3.6 billion has been recorded by Binance, representing 2.1% of its total assets under management, which stands at $171 billion. The company confirmed this information through a proof of reserves snapshot released on Sunday.

Binance has continued to restore access to user funds, following its initial efforts to address the recent hack. On Sunday, the platform resumed trading in certain cryptocurrencies, including Dogecoin and Avalanche. This move builds on the previous day's decision to reinstate withdrawals for 15 networks and assets, such as ethereum and USDT tokens.

Binance has also provided an update on the status of stolen funds, stating that it had replenished 90% of the amount taken. However, a smaller portion of the stolen tokens is considered less liquid, which may lead to delays in their recovery.

The company's commitment to covering the remaining 10% of the stolen funds has been reaffirmed by Richard Teng, Binance's co-chief executive. He emphasized that users would not bear any financial burden as a result of the hack.

Investigations into the hack have led to revelations about its likely perpetrator: a North Korea-affiliated group called TraderTraitor. This entity is believed to be part of the Lazarus Group, which gained notoriety in 2014 for hacking into Sony Pictures following the release of The Interview.

The Federal Bureau of Investigation has revealed new details about the massive hack that targeted cryptocurrency exchange Binance in October. According to the FBI, North Korea was responsible for stealing more than $6bn in virtual assets from Binance on or around October 29.

The agency observed "TraderTraitor actors" converting the stolen assets into ethereum and expected them to be laundered further through decentralised finance and instant swap services. The FBI is urging private sector entities to block transactions with or derived from addresses linked to these actors, who are allegedly using them to launder the stolen assets.

Binance has confirmed that a compromised laptop and malicious software played a key role in the breach, making it harder for investigators to trace and investigate the attack. The company's security team has been working tirelessly to contain the damage and prevent further losses.

To mitigate the impact of the hack, Binance is using part of its $1bn secure asset fund for users, as well as its bitcoin reserve and futures insurance fund, to rebuy tokens and cover the losses. This move is expected to have a significant financial burden on the company.

The massive hack on Binance is raising concerns about the vulnerability of cryptography and IT security protocols in the face of rapidly advancing artificial intelligence models. This has sparked worries among observers that sophisticated hacking techniques could be used to compromise even the most secure systems.

Bitcoin's value plummeted by nearly 5% following the news, while ethereum dropped by almost 6% and BNB, native to Binance, saw a staggering near-10% decline in value. The sheer scale of the hack has highlighted North Korea's ability to exploit illicit means to generate revenue despite facing extensive international sanctions over its nuclear and missile programs.

The Guardian Business: https://www.theguardian.com/business/2026/nov/01/investors-take-out-36bn-from-binance-after-record-hack-that-stole-billions

The hacking incident is being attributed to North Korea, according to experts who have been analyzing the breach. The FBI has also pointed fingers at the reclusive nation, with some speculating that it may be linked to state-sponsored hackers known as TraderTraitor.

In an effort to stabilize its platform and prevent further loss of funds, Binance initially froze withdrawals on Thursday. However, after a thorough investigation, the company announced that it had begun phasing in withdrawals starting from 2pm Singapore time on Sunday.

The initial phase of withdrawals will be limited to customers holding specific tokens such as ethereum (ETH), USDT, and USDC on the ethereum blockchain. Additionally, some users who hold assets on the BNB Smart Chain blockchain will also be able to access their funds during this first phase.

The FBI has confirmed that a group linked to North Korea was behind the massive $6.3bn hack on cryptocurrency exchange Binance last month. The group in question is TraderTraitor, which is believed to be part of the notorious Lazarus Group. This group gained notoriety in 2014 when it hacked into Sony Pictures as revenge for a film that mocked North Korea's leader.

The FBI statement revealed that North Korea was responsible for the theft of more than $6bn in virtual assets from Binance on or about October 29. The law enforcement agency warned private sector entities to block transactions with or derived from addresses used by TraderTraitor actors to launder the stolen assets.

According to the FBI, it had observed TraderTraitor actors converting the stolen assets into ethereum, and expected them to be laundered further using decentralised finance and instant swap services. This is a common tactic used by hackers to conceal their tracks and make it harder for authorities to investigate.

The breach was described as a "complex attack" involving a compromised laptop and malicious software designed to delete evidence of its activity.

Binance has allocated approximately $6.34 billion from company funds to cover losses stemming from the recent hack.

The funds used to rebuy tokens were sourced from a combination of Binance's Secure Asset Fund for Users, which holds a reserve of bitcoin valued at over $1 billion, as well as its Futures Insurance Fund and corporate treasury.

Concerns have been raised that advancements in artificial intelligence could compromise cryptography and IT security protocols, potentially leaving digital assets vulnerable to attacks similar to the one experienced by Binance.

The significant scale of the hack has also drawn attention to North Korea's ability to exploit illicit means for revenue generation despite facing extensive international sanctions.

The Guardian Business: https://www.theguardian.com/business/2026/nov/01/binance-losses-covered-hack-fbi-north-korea-cryptocurrency

The remaining 10% may take longer to source, according to the company. Binance had previously pledged to cover 100% of the losses from what is believed to be crypto's biggest hack on record.

To fulfill this promise, Binance has set aside over $6.34bn in company funds. This move aims to protect users from financial impact and alleviate concerns about their assets being lost due to the cyber attack.

Withdrawals have been restored on several of its networks after being suspended following the hack, with the company stating that they would be resumed in phases.

The cryptocurrency firm Binance has confirmed that it has replenished nearly 90% of the stolen assets after being hacked for $6.3bn.

Binance's own corporate treasury and various funds were used to cover the losses, which include all holdings of widely-traded cryptocurrencies such as bitcoin, Ethereum, Tether, and seven other digital assets. The company did not specify how much was returned or what percentage of the total losses remain uncovered.

The hack is believed to be one of the largest in history, surpassing a previous record of $1.5bn on the Bybit exchange in 2025, for which North Korea was also implicated by the FBI.

Binance's investigation into the breach has revealed that sophisticated methods were used by the hackers, including a "self-destruct mechanism" to cover their tracks.

Binance has managed to freeze approximately $3 billion worth of assets stolen during the recent hack, following a collaborative effort with law enforcement agencies and private sector partners.

The US Secret Service is actively working to identify, freeze, trace, and recover the funds stolen from Binance, with the agency stating it is working around the clock on the matter. This operation underscores the severity of the breach and the determination of authorities to bring those responsible to justice.

As a result of the hack, Binance has been forced to absorb significant losses, but the company's efforts so far have helped mitigate the damage. Despite the challenges posed by sophisticated hacking methods used in the breach, including a self-destruct mechanism, authorities remain committed to recovering the stolen funds.

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Prosecutors have indicted and arrested at least two individuals in connection with the case, while conducting searches across dozens of suspected "laptop farms in Texas. These laptop farms allegedly housed computers used by North Koreans to remotely hack into US companies and steal sensitive data.

The Justice Department claims that over 180 computers were seized during the raids, which it believes were shipped to employees of American companies who had no idea they were dealing with sanctioned North Korean spies. The spies had obtained stolen identities of US citizens to gain employment, allowing them to access company systems remotely.

Experts at cybersecurity firm CrowdStrike have highlighted the importance of laptop farms in North Korea's hacking operations, noting that these facilities help overcome physical, financial, and legal challenges faced by hackers operating from outside the US.

At least 70 US-based companies across various sectors have been infiltrated by North Korean hackers, according to prosecutors. These companies operate in industries such as healthcare, cyber support, retail, communications, and manufacturing, spread across Ohio and 16 other states, including the District of Columbia.

The Justice Department has noted that North Korean IT workers are increasingly turning to American facilitators to help them evade detection by private sector security measures and law enforcement. These facilitators are hired to complete a range of tasks, with some even being subcontracted to third-party foreign nationals in certain cases.

To carry out their operations, North Korean hackers often use convincing email addresses, spoofed LinkedIn profiles, and extensive online presence as cover for their activities. This allows them to blend in seamlessly with legitimate professionals and avoid raising suspicion.

The FBI has issued a public service announcement warning of the significant threat posed by thousands of North Korean-state controlled IT workers working at Western companies. These insiders pose a major risk to national security and intellectual property theft, highlighting the need for increased vigilance among businesses.

This is part of a larger trend in recent years of enforcement action targeting North Korean activities in the US. The regime's remote IT workers scheme allows North Koreans to gain employment with US and European companies, earn a wage, and then steal sensitive information and intellectual property as employees, before extorting victim companies for further payments.

The illicit revenue streams of North Korea's regime are multifaceted, with a notable example being its remote IT workers scheme. This allows North Koreans to secure employment with US and European companies, earning a wage while simultaneously stealing sensitive information and intellectual property.

Experts estimate that the actual number of hacked companies and stolen cryptocurrency is likely higher than reported, underscoring the scope of North Korea's cybercrime activities. The regime has been accused of using these tactics to fund its nuclear weapons program, which remains internationally sanctioned.

North Korean hackers have been linked to a significant proportion of documented hands-on-keyboard" intrusions over the past year. According to one report, they were responsible for around half of all such incidents, highlighting their sophistication and capabilities in the field of cybercrime.

The regime's hacking activities extend beyond US companies, with targets including crypto exchanges and open-source developer projects. These attacks have yielded significant sums of money, with some estimates suggesting that North Korea has stolen at least $2 billion in cryptocurrency during 2025 alone.

The North Korean cyber attacks have not only compromised sensitive information but also led to significant financial losses for several US companies. These attacks have been ongoing and have targeted various sectors, including finance, technology, and energy.

According to estimates, the total amount of cryptocurrency stolen from these attacks is substantial, with at least $2 billion reportedly lost in 2025 alone.

TechCrunch: https://techcrunch.com/2026/10/13/justice-department-says-north-koreans-have-infiltrated-dozens-of-u-s-companies/