Eigen RadarGeopolitics
Analysis

Kim Yo Jong rejects accusation of North Korean role in Binance theft

Kim Yo Jong denied North Korean involvement in the Binance cryptocurrency theft in a statement carried by state media on 3 November. She rejected the FBI’s attribution as political provocation. US authorities link the operation to a North Korea-associated group; Pyongyang’s response disputes responsibility without supplying an independent technical resolution.

Geopolitics··Midday
The Pyongyang headquarters of North Korea's state news agency KCNA, which distributed Kim Yo Jong's denial over the Binance theft.

Kim rejects the US accusation

Kim Yo Jong, a senior North Korean official and sister of leader Kim Jong Un, denied her country’s involvement in the Binance cryptocurrency theft on 3 November. Her statement was distributed by the state-run Korean Central News Agency. Kim called the American accusation a political provocation aimed at damaging Pyongyang’s international standing.[1], [2]

US authorities attribute the operation to TraderTraitor

The US Federal Bureau of Investigation and Secret Service attribute the theft of 6.3 billion dollars to TraderTraitor, a group they link to North Korea. Independent cryptocurrency investigators have also examined North Korean connections. The FBI asked industry partners to block cryptocurrency addresses associated with the stolen funds. Kim said her government opposed malicious activity in cyberspace; that declaration disputed US attribution without settling technical responsibility.[1]

Binance describes its response to the theft

Binance said an employee’s computer had been compromised, allowing unauthorised withdrawals. The exchange suspended transactions before reopening them. It said customers withdrew more than 3.6 billion dollars on Sunday as transactions resumed, and that it had covered around 95 per cent of stolen assets while promising to cover all losses. These were the platform’s own statements about its response and customer funds.[1]

References

  1. News sourceBBCNorth Korea denies involvement in Binance theft↩1↩2↩3
  2. News sourcecrypto.newsNorth Korea denies Binance theft accusation↩