North Korea has rejected the FBI’s allegation that a hacking group linked to Pyongyang stole $6 billion (€5.3 billion) from cryptocurrency exchange Binance, calling the claim a “grave political provocation.” The denial was issued by Kim Yo-jong, the sister of North Korean leader Kim Jong-un, as the country reported a test of strategic cruise missiles.
The FBI said on Saturday that the theft was carried out by TraderTraitor, a hacking group affiliated with North Korea. Kim Yo-jong dismissed the allegation as “absurd rhetoric and nothing new,” pointing to previous US accusations that Pyongyang was responsible for last year’s major Bybit hack.
Michael Bosack, founding director of the Parley Policy Institute and a former UN Command official, told AFP the Binance theft could be the largest cryptocurrency heist in history. He said the amount was equivalent to nearly a quarter of North Korea’s estimated annual GDP. Bosack suggested Pyongyang may have responded because of the international attention, adding that scrutiny could make it harder to launder and use the stolen cryptocurrency.
South Korean President Lee Jae-myung called for stronger safeguards for the country’s digital infrastructure. He said increasingly sophisticated cyberattacks were exposing the limits of security systems focused on inspections and responses after incidents, and called for a comprehensive prevention system. A 2024 United Nations report said proceeds from North Korean cyberattacks had reportedly helped fund the country’s development of weapons of mass destruction.
North Korea’s state news agency KCNA said the cruise missile test took place on Monday and involved a new cluster-munition warhead. It reported that the warhead could cover a target area of five to six hectares and said the test demonstrated improved terminal manoeuvrability for vertical strikes.
Lim Eul-chul, a professor at Kyungnam University’s Institute for Far Eastern Studies, told AFP the missile could be intended to threaten South Korean and US military infrastructure. He also described the launch as a way to strengthen conventional strike capabilities as a form of deterrence before any use of nuclear weapons.
South Korea’s military did not announce the latest cruise missile test. Joint Chiefs of Staff spokesperson Jang Do-young said the South Korean and US militaries were coordinating an analysis of the characteristics and specifications of a reported earlier test, adding that not every North Korean projectile launch is made public for operational security and to protect intelligence assets. North Korean cruise missile tests are not prohibited by UN Security Council sanctions.
Sources: Euronews English.