Pyongyang denies responsibility for hacking attack targeting Binance

The statement added that the United States misleading the international public by suggesting that all cybercrimes (...) worldwide originate from North Korea constitutes a serious political provocation against the Democratic People's Republic of Korea.

The FBI on Saturday accused North Korea of being behind the theft, blaming a group of North Korean hackers known as "Trader Traitor."

This is the same group the FBI accused of stealing $1.5 billion from the Bitstamp platform in February 2025, which at the time was considered the largest cryptocurrency theft ever.

The "Trader Traitor" group is part of the "Lazarus" group, which is linked to North Korean intelligence agencies. "Lazarus" gained notoriety in 2014 when it was accused of hacking Sony Pictures Entertainment in retaliation for the satirical film "The Interview," which targeted North Korea.

Kim Yo Jong added, "This is a malicious attempt to damage the international image of the Democratic People's Republic of Korea and undermine its national dignity and prestige, constituting another grave violation of its sovereignty."

She continued, "The firm political stance of the government of the Democratic People's Republic of Korea is resolute opposition to all forms of malicious activities in cyberspace."

Regarding the Binance case—the world's largest digital currency exchange by trading volume, with 335 million users—South Korean President Lee Jae-myung, who advocates a policy of de-escalation toward North Korea, said Tuesday that current measures face "clear limitations" in confronting digital threats, without directly accusing any specific party despite referring to a "group of hackers."

He added, "We must establish a comprehensive preventive system to address cybersecurity crises."

According to a 2020 report by the U.S. military, North Korea's cyber warfare unit, known as "Bureau 121," then comprised around 6,000 personnel operating not only domestically but also abroad, particularly in Belarus, China, India, Malaysia, and Russia.

- "Preserving" money laundering channels -

Michael Bussac, founder and director of the Barley Institute for Policy and former officer with the United Nations Command in South Korea, told AFP that "the likely reason the Democratic People's Republic of Korea felt compelled to respond is the extent of international attention generated by the incident," noting that the amount stolen from Binance is equivalent to "about a quarter of North Korea's estimated annual GDP."

He added, "This denial is not merely about reputation—North Korea's government needs to preserve available channels to continue money laundering operations and use of this cryptocurrency."

He noted that this massive theft could jeopardize a potential summit between Kim Jong Un and U.S. President Donald Trump, who has repeatedly expressed interest in holding such a meeting.

On the eve of this official denial, North Korea conducted strategic cruise missile tests, according to the Korean Central News Agency.

Unlike ballistic missile tests, cruise missile tests are not subject to sanctions.

Monday's test "enhanced the capability to deliver a vertical strike on target by improving the maneuverability during the final phase of the cruise missile's trajectory," the official agency reported.

The medium-sized warhead mounted on the missile is capable of turning an area between five and six hectares into ashes when used at maximum destructive capacity, the agency added.

In recent weeks, Pyongyang has conducted multiple tests ranging from attack drones and hypersonic missiles to torpedoes and fragmentation weapons.