North Korea has officially denied allegations that it was involved in the recent cyberattack on Binance, the largest cryptocurrency exchange globally, which reportedly resulted in a theft of around $6.3 billion. The North Korean government characterized these accusations as “fabricated” in a statement released by the Korean Central News Agency (KCNA).

The denial comes in response to claims from the U.S. Federal Bureau of Investigation (FBI), which has formally attributed the cyber heist to North Korean operatives. According to the FBI, an onslaught by a hacker group named TraderTraitor, linked to North Korea, was behind the incident that occurred on October 29.

Details of the Cyberattack

The FBI’s statement, issued on October 31, detailed how the attackers primarily converted the stolen cryptocurrency into Ethereum (ETH). They warned that these funds might be laundered through decentralized finance (DeFi) platforms, with specific calls for cryptocurrency exchanges and blockchain service providers to monitor and block transactions from linked wallet addresses.

Following the attack, blockchain analytics firms TRM Labs and Chainalysis also identified connections to North Korean hacker groups in their investigations, lending credence to U.S. allegations.

In its rebuttal, the North Korean government emphasized its commitment to cybersecurity and stated, “It is our policy to oppose all malicious activity in cyberspace,” reiterating that the accusations against them are unfounded.