CoinDesk
Kim Yo Jong, the sister of North Korean leader Kim Jong Un, denied U.S. accusations that North Korea was behind the $6.4 billion Binance hack, calling them a political provocation. The denial follows an FBI alert attributing the Oct. 29 theft to TraderTraitor, a North Korean hacking operation, and identifying cryptocurrency addresses connected to the stolen funds.
Why it matters
The scale of the alleged theft makes the attribution consequential for crypto security and enforcement. The FBI urged cryptocurrency services to block transactions involving the identified addresses. Blockchain investigators have also linked the attack to North Korea’s Lazarus Group, which the U.S. Treasury sanctioned in 2019.
Elliptic traced funds through thousands of wallets and found evidence of automated laundering, but no proof that AI agents directed the transactions. The available findings describe the movement of funds, not a confirmed recovery or the hackers’ identities beyond the U.S. attribution.
Market impact
The immediate operational focus is on whether exchanges and blockchain services can identify and block activity tied to the flagged wallets. That response may affect the movement of stolen funds, but the seed reports no recovery or market-price impact.
Kim also challenged the FBI’s attribution of the $1.5 billion Bybit hack in February 2025. North Korea has repeatedly denied involvement in major cyberattacks; Washington has previously imposed sanctions and brought criminal charges over alleged North Korean crypto thefts.
Frequently asked questions
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Who did the FBI attribute the Binance theft to?
The FBI attributed the Oct. 29 theft to TraderTraitor, a North Korean hacking operation.
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What did Kim Yo Jong say about the accusation?
Kim Yo Jong denied that North Korea was behind the theft and called the U.S. accusation a political provocation.
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What action did the FBI request from crypto services?
The FBI urged cryptocurrency exchanges and blockchain services to block transactions involving identified wallet addresses.
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What did Elliptic find while tracing the stolen funds?
Elliptic traced funds through thousands of wallets and found evidence of automated laundering, but no proof that AI agents directed the transactions.
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Have the stolen funds been reported as recovered?
The report does not confirm that any of the stolen funds have been recovered.
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