North Korea rejects FBI claim over $6 billion Binance hack

North Korea has denied responsibility for the theft of more than $6 billion from Binance, calling the FBI’s accusation “a trite provocation.” The dispute puts the FBI’s attribution to North Korean hackers at the centre of a case involving what appears to be the largest crypto heist on record, according to the Associated Press report.

What did Kim Yo Jong say about the FBI’s claim?

Kim Yo Jong, the sister of North Korean leader Kim Jong Un, denied the country’s involvement on Tuesday. She called the FBI announcement “a trite provocation” and “absurd rhetoric,” and accused the United States of linking North Korea to cybercrime whenever major incidents happen.

Her statement followed the FBI’s October 31 announcement that North Korea was responsible for more than $6 billion in virtual assets stolen from Binance on or about October 29. The agency calls the activity “TraderTraitor.” That is the FBI’s attribution; North Korea disputes it.

What does the FBI say happened to the stolen crypto?

The FBI says it and its partners have observed the attackers converting the stolen assets mainly into Ether, the cryptocurrency of the Ethereum network. It expects the funds to be moved again through decentralized finance, or DeFi, services and instant swaps—tools that let users trade crypto without a traditional exchange.

The agency has published wallet addresses it says are holding, or have held, assets from the theft. It is urging crypto exchanges, DeFi services, blockchain analysts and other providers to block transactions linked to those addresses, according to the FBI notice.

How certain is the public account of responsibility?

The FBI’s notice directly assigns responsibility to North Korea and names TraderTraitor. President Donald Trump, asked about the case at a Halloween event, said investigators did not yet know whether North Korea was involved, AP reported. The public statements therefore differ: the FBI has made an attribution, North Korea denies it, and Trump said the investigation was still learning about the case.

The immediate focus is whether service providers can stop the stolen assets from moving through further swaps and laundering stages. The FBI has asked them to block transactions tied to the listed wallets. Its notice does not say that the assets have been recovered.

Sources

• Associated Press report — apnews.com
• FBI notice — fbi.gov