North Korea Rejects FBI Claims on Binance Hack
North Korea denies involvement in the recent Binance hack as investigations continue and exchange users verify reserves.
North Korea Rejects FBI Claims on Binance Hack
North Korea denies involvement in the recent Binance hack as investigations continue and exchange users verify reserves.
North Korea Responds to Binance Hack Claims
North Korea has rejected claims from the Federal Bureau of Investigation linking the country to the recent Binance hack, according to recent reports. The Federal Bureau of Investigation previously stated that North Korean hackers were responsible for the theft. The breach occurred on October 29 and involved attackers stealing approximately $6.3 billion in digital assets from the exchange.
Analysts reported that hackers laundered $242 million of the stolen funds through Tron. Crypto bridges including Relay, THORChain, Chainflip, and Symbiosis moved about $140 million of those funds off Tron. Relay handled the largest share among the bridges at $48 million.
Market Impact and Exchange Recovery
The security breach at the world's largest crypto exchange surpassed the previous record set by the Bybit attack in February 2025. Following the incident, United States spot bitcoin exchange-traded funds recorded $643 million in outflows on Friday. This figure marked the largest single-day outflow for spot bitcoin funds since June 25.
Binance completed a proof of reserves snapshot to help restore assets and withdrawals. Users can now independently verify one-to-one backing for Bitcoin, Ether, Binance Coin, Solana, Ripple, and other assets as the exchange replenishes 95 percent of the lost funds.
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