North Korea denies FBI Binance hack claim and fires cruise missiles

North Korea denied FBI allegations that it was behind the theft of $6 billion from the Binance cryptocurrency platform. The denial came as the country test-fired strategic cruise missiles in a new display of weapons capabilities.

Kim Yo Jong, the sister of leader Kim Jong Un, called the FBI's claims a grave political provocation. She described the allegations as absurd rhetoric and nothing new.

“Not long ago, even the world's largest cryptocurrency exchange suffered astronomical losses from a cyberattack believed to have been carried out by a hacking group.”

The FBI said on Saturday that a North Korea-affiliated hacking group called TraderTraitor was behind the hack. Experts view the incident as potentially the largest cryptocurrency theft in history.

Michael Bosack, founding director of the Parley Policy Institute, said the stolen amount equals nearly a quarter of North Korea's estimated annual GDP. He added that Pyongyang likely responded because of the high level of international attention on the incident.

South Korea called for increased protections for its digital infrastructure against cyberattacks. President Lee Jae Myung said even the world's largest cryptocurrency exchange recently suffered astronomical losses from a cyberattack.

Lee warned that existing security systems centred on inspections and responses after incidents have revealed clear limitations. He called for a comprehensive prevention system to address the cybersecurity crisis.

A 2024 United Nations report said proceeds from North Korean cyberattacks had reportedly supported the country's weapons programmes.