Business · Singapore Bureau
North Korea dismisses US allegations over Binance cryptocurrency theft
Pyongyang has rejected American claims linking it to a major heist from cryptocurrency exchange Binance, describing the accusations as unfounded rhetoric. The denial comes as authorities investigate the significant digital asset theft.
LSN Singapore ·
North Korea has dismissed allegations that it orchestrated a major cryptocurrency heist targeting the Binance platform, according to state news agency KCNA. Officials in Pyongyang characterised the US claims as "absurd rhetoric," suggesting such accusations represent a familiar pattern of rhetoric from Washington.
The statement represents Pyongyang's response to American assertions regarding the theft, which has drawn international attention given the scale of the cryptocurrency loss. Authorities have been investigating the circumstances surrounding the breach at one of the world's largest digital asset exchanges.
The timing of North Korea's denial underscores growing concerns about nation-state involvement in major cybercriminal activities. Security experts have increasingly flagged North Korean threat actors as perpetrators of high-value cryptocurrency thefts, which have reportedly been used to fund government operations.
The exchange has not yet provided comprehensive details about the full scope of the security incident or confirmed the precise sum of assets affected. Investigation into the matter is ongoing as relevant authorities work to establish the facts surrounding the breach.