North Korea denies involvement in Binance hack, criticizes FBI probe

Key Points:

• North Korea denied involvement in the recent $6 billion cryptocurrency heist at Binance, dismissing U.S. accusations as a "trite provocation" and "absurd rhetoric," according to Kim Yo Jong, sister of leader Kim Jong Un.
• The FBI attributed the Binance hack to North Korean hackers linked to the TraderTraitor group, which also carried out a $1.5 billion hack of the Bybit exchange last year.
• Experts note North Korea increasingly relies on cryptocurrency theft and cybercrime to fund its economy and nuclear program amid international sanctions, with South Korea estimating $1.1 billion stolen over five years by North Korean hackers.
• South Korea's Foreign Ministry condemned North Korea's cyber activities as a growing global threat and emphasized cooperation with the U.S. and international community to counter such threats.
• The Binance hack coincides with North Korea’s recent weapons tests and diplomatic tensions, while former U.S. President Donald Trump expressed uncertainty about North Korea's involvement in the theft.