North Korea officially denied responsibility for the historic $6.3 billion Binance cryptocurrency heist, with Kim Yo Jong dismissing FBI attributions pointing to the state-backed TraderTraitor hacking group as absurd rhetoric and political provocation. Kim countered by suggesting U.S. involvement under Trump administration reserve policies. Meanwhile, Binance replenished 95% of stolen assets from company reserves and restored client withdrawals.
North Korea denies Binance hack allegations
- ▪Kim Yo Jong, sister of North Korean leader Kim Jong Un, issued a KCNA statement rejecting U.S. and FBI claims linking North Korea to the October 29 $6.3 billion Binance heist as absurd rhetoric and grave political provocation
- ▪Kim Yo Jong suggested without evidence that examining who receives recovered Binance assets under the Trump administration's Strategic Bitcoin Reserve policy could offer a clue pointing to U.S. involvement in the Binance hack
- ▪Kim Yo Jong stated that U.S. hostility was forcing Pyongyang to reconsider unspecified diplomatic and security issues in diverse aspects
FBI details Binance hack investigation
- ▪The FBI observed TraderTraitor hackers converting stolen Binance assets primarily into Ethereum and expected them to launder funds through decentralized finance platforms and instant-swap services
- ▪The U.S. Secret Service, IRS Criminal Investigation, and Justice Department are investigating the October 29 Binance heist alongside the FBI to identify and freeze stolen assets
- ▪The FBI issued an alert on October 31, 2026, accusing North Korea-sponsored hacking group TraderTraitor of stealing over $6 billion from Binance on or around October 29, 2026
Blockchain tracking findings
- ▪Onchain investigator ZachXBT identified a connection between the October 29 Binance hack and the Bitget hack, finding stolen funds from both were commingled at the same address after passing through THORChain
- ▪Blockchain intelligence firm TRM Labs attributed the October 29 Binance breach to TraderTraitor with high confidence, citing transaction signature execution, Tornado Cash usage, and onchain commingling
North Korea linked to Bybit attack
- ▪The FBI previously attributed the February 2025 $1.5 billion Bybit cryptocurrency theft to North Korea's TraderTraitor group
- ▪Kim Yo Jong rejected prior U.S. allegations attributing the February 2025 Bybit cryptocurrency attack to North Korea
Scope and impact of Binance breach
- ▪The October 29, 2026 breach of Binance hot wallets across ten blockchains resulted in approximately $6.36 billion in unauthorized withdrawals, making it the largest crypto heist on record
- ▪Binance covered customer losses from the October 29 Binance hack and replenished approximately 95% of affected assets using company reserve funds, allowing the platform to restore withdrawals across multiple networks
- ▪Binance completed a Proof of Reserves verification for ten major crypto assets confirming user balances were backed at least 1:1 as of October 31, 2026
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