Record hack hits Binance

Cryptocurrency exchange Binance suffered a six point three billion dollar hack, described as the largest in history. The FBI, Secret Service and cyber analysts say North Korea orchestrated the attack.

North Korea calls it absurd

Kim Yo Jong, sister of leader Kim Jong Un and director of North Korea's General Affairs Department, denied the accusations on Tuesday, calling them absurd rhetoric and a sinister attempt to damage Pyongyang's image.

“It is a grave political provocation against the DPRK that the US misleads the international public opinion as if all the cyber crimes in different parts of the world are our deeds.”

State-backed group blamed

Blockchain analysts and the FBI said the attack was led by state-backed hacking group TraderTraitor, also known as Lazarus Group.The same unit was blamed for a one point five billion dollar Bybit hack in 2025.

North Korea's cyber operations

Research groups including the S Rajaratnam School of International Studies say Pyongyang has systematically built cyber operations by recruiting promising students from universities and sending them to hacker units overseen by its intelligence agency.

Binance reports withdrawals

A net four point seven two billion dollars has been withdrawn from Binance since trading resumed on Sunday.The company said an engineer's laptop was compromised, enabling unauthorised withdrawals.

Withdrawals stabilising

Binance said withdrawal levels are stabilising to normal activity. The net outflow represents a relatively limited portion of the exchange's total assets, which stand at approximately one hundred fifty-seven billion dollars.