On October 29, hackers breached Binance, the world’s largest cryptocurrency exchange, and stole exactly $6.3 billion. The FBI immediately took over the investigation to trace the digital money.
Agents watched on the public blockchain as the thieves rapidly traded the stolen assets for Ethereum. In response, American authorities sent an emergency order to all other crypto companies, demanding they freeze any funds connected to the attackers.
The United States government officially blamed the attack on “TraderTraitor,” a hacking group that takes orders directly from the government of North Korea.
Today, North Korea fired back, Kim Yo Jong, the powerful sister of leader Kim Jong Un, used the state news channel KCNA to completely deny the accusations. She called the American claims absurd rhetoric and a grave political provocation against her country.
Binance hack attribution is colliding with a North Korean denial
The FBI says North Korea was responsible for the Binance theft and names the activity TraderTraitor
North Korea calls the accusations a fabrication, as reported by https://t.co/wnSsBHD6xK
Unverified engineer allegations add another thread, while Chainalysis says stolen funds moved onto Solana, per DEGEN NEWS
Of the 84 voices we saw, the camps split between denial, concern, and a small optimistic takeAttribution matters, but the engineer story is unverified; keep the two claims separate
What evidence should matter most when a state denies an attribution?
https://t.co/nh1Hiyilbq
— 0dysaywoos (@0x_0dy) November 3, 2026
Social media users quickly shared their own theories about the breach. On X, @Motiur Rahman agreed with the political denial, stating that the public already knows the real motive and that the isolated Asian nation was not responsible.
@WuBlockchain well we know who is behind it and the purpose of it…..i have already said that it was not NORTH K.
— Motiur Rahman (@MotiurR20602240) November 3, 2026
Bringing the focus back to the hard data, @Grnebreezy, a Web3 enthusiast, pointed out that political denials mean nothing because the permanent public ledger will eventually expose exactly where the money went.
@WuBlockchain a political denial wont stop the onchain trail from showing where those binance funds went
— phantomBlaze (@Grnebreezy) November 3, 2026
READ ALSO: Binance Introduces Trading Restrictions as It Seeks Brazilian Crypto License
Why North Korea always gets blamed
Whenever a digital trading platform gets robbed, global authorities immediately point at Pyongyang, the capital of North Korea. This happens because stealing digital money is an actual state-run business there. Traditional countries survive by selling physical goods like oil, clothing, or electronics to other nations. Because of heavy global trade bans, the isolated nation cannot legally sell normal products to make money. To survive and pay for its military programs, the state trains armies of computer programmers to steal cash from the internet.
This state-run hacking program has a long, proven history of success in the crypto industry. In 2022, digital thieves from the country attacked the Ronin Network, a popular video game platform, and stole $625 million. Later that same year, they broke into the Harmony Horizon bridge and took another $100 million.
International security agencies traced the money from these past attacks directly into state-controlled military accounts. Because the country relies heavily on digital theft to keep its government running, they are automatically the prime suspect the moment a major security breach happens anywhere in the world.
Some users believe it was an “inside job”
A massive crypto theft like this causes a lot of speculation. On X, @Shmoneycrypto speculated that a rogue employee stole the money. He laughed off the idea of foreign attackers entirely, suggesting the massive theft was clearly an inside job by company workers.
@WuBlockchain It was an inside job lol
— shmoneycrypto (@shmoneycrypto1) November 3, 2026
To pull off an inside job, modern cybercriminals do not waste time trying to break the blockchain’s mathematical code. Instead, they steal digital keys directly from the workers.
The attackers exploit human ambition through fake employment offers. They build highly realistic recruiter profiles on professional networking websites like LinkedIn. They specifically target engineers who manage the security of large trading platforms, offering them high-paying dream jobs. After weeks of chatting and building trust, the fake recruiter asks the engineer to complete a test to prove their skills.
They send over a file containing the test. When the hopeful employee opens it on their work computer, a hidden virus silently installs itself. This malicious software immediately copies the worker’s security passwords and sends them back to the attackers. The criminals then use these stolen credentials to log into the company network.
To the computer system, it looks like an authorized employee is logging in to move the money. This is how attackers use a psychological trap to bypass internal security and steal user funds.
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