North Korea has dismissed US allegations that it was responsible for a $6 billion cryptocurrency theft from Binance, calling Washington’s claims an act of political provocation and accusing the United States of trying to damage its international reputation.
Kim Yo Jong, the influential sister of North Korean leader Kim Jong Un, described the allegations as “absurd rhetoric” in comments reported by state news agency KCNA on Tuesday. She said the accusations demonstrated that Washington remained hostile towards Pyongyang and warned that North Korea had “issues to reconsider” in response to what she called the US government’s unpleasant attitude.
Her remarks came as North Korea has remained publicly silent on US President Donald Trump’s offers to resume summit diplomacy. The timing raises questions about whether the latest dispute over cryptocurrency theft could further complicate efforts to revive engagement between the two countries.
The FBI said over the weekend that North Korea was responsible for stealing more than $6 billion in virtual assets from Binance, the world’s largest cryptocurrency exchange. If confirmed, the incident would represent one of the largest financial heists on record.
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KCNA quoted Kim as accusing the FBI of attempting to portray North Korea as a “cyber criminal state” by claiming that a hacking organisation supported by Pyongyang had been involved in the incident.
She rejected the allegations, arguing that Washington was misleading international public opinion by suggesting that cybercrimes around the world were attributable to North Korea.
Cryptocurrency theft as a source of revenue
The allegations carry significance beyond the dispute over responsibility for the Binance theft. Cybersecurity experts have identified North Korean hackers as some of the world’s most prolific cryptocurrency thieves, with stolen funds believed to help finance the country’s weapons programmes.
Pyongyang routinely denies involvement in cryptocurrency theft and other cybercrimes.
According to estimates by blockchain analytics firm Elliptic, North Korea has stolen cryptocurrency worth $7.6 billion this year, exceeding the total recorded in any previous year.
Analysts in Seoul believe Pyongyang’s unusually swift response to the FBI allegations reflects concern that the accusations could encourage stronger international efforts to disrupt financial networks that North Korea is accused of using to generate revenue.
Lim Eul-chul, a professor at Kyungnam University’s Institute for Far Eastern Studies, said cryptocurrency theft had become one of North Korea’s important channels for obtaining funds for regime maintenance and weapons development, particularly under existing sanctions.
He warned that additional US measures targeting cryptocurrency wallets, laundering networks and exchanges could restrict an important source of revenue for Pyongyang.
The scale of the alleged Binance theft also illustrates the potential economic significance of such operations. South Korea’s central bank estimated North Korea’s gross domestic product at 47.18 trillion won, or $35.09 billion, in 2025. The $6 billion theft would therefore be equivalent to roughly one-sixth of the country’s estimated economic output.
Blockchain analytics firm Chainalysis estimated that North Korea accounted for 89% of cryptocurrency hack losses in 2026, compared with 15% in 2021. It also reported that average losses per hack increased from $50.65 million in 2021 to $185.65 million in 2026.
Alec Zebrick, senior manager of Asia-Pacific Global Services at Chainalysis, described the pattern as a form of “big game hunting”, in which hackers target larger exchanges despite the additional time and complexity involved because the potential financial returns can be substantial.
A dispute with implications for US-North Korea relations
North Korea’s response also reflects the wider political sensitivity surrounding allegations of illicit financial activity. Although Pyongyang is among the world’s most impoverished countries, it has continued to direct resources obtained through illicit activities and activities prohibited by UN Security Council resolutions towards its ballistic missile and nuclear weapons programmes.
Kim Yo Jong did not specify what issues North Korea would reconsider in response to Washington’s position. However, her warning suggests that Pyongyang may view the allegations as part of a broader pattern of US pressure rather than simply a law enforcement matter.
Hong Min, a senior researcher at the Korea Institute for National Unification in Seoul, said the central message of Kim’s statement concerned the state of relations between Washington and Pyongyang, rather than the cryptocurrency theft itself.
He suggested that North Korea was warning the United States against using the allegations as leverage or a means of applying pressure if Washington wanted to preserve the possibility of renewed dialogue.
That message comes as Trump has expressed interest in restarting summit diplomacy, but North Korea has yet to publicly respond to his overtures. The latest exchange adds another source of tension at a time when the prospects for renewed engagement remain uncertain.
What happens next?
The FBI has identified members of a North Korean state-sponsored unit known as TraderTraitor as responsible for the Binance attack. According to the bureau, investigators observed the hackers converting the stolen assets into ethereum and expect further efforts to launder the funds.
Binance has said it covered most of the stolen assets using company funds.
The allegations could increase pressure on US authorities and international partners to target the cryptocurrency wallets, exchanges and laundering networks associated with North Korean cyber operations. Such measures could make it harder for Pyongyang to convert stolen digital assets into usable revenue.
For North Korea, however, the issue is also diplomatic. By framing Washington’s accusations as political hostility, Kim Yo Jong has linked the cybercrime dispute to the broader question of whether the United States is genuinely interested in restoring dialogue.
Whether the allegations lead to additional financial restrictions or become another obstacle to summit diplomacy will depend partly on how Washington pursues the case and how Pyongyang responds.
With information from Reuters.
