Key Highlights:
- North Korea denies U.S. allegations of its involvement in a recent Binance exchange exploit that stole over $6.3 billion in digital assets.
- Kim Yo Jong, sister of North Korean leader Kim Jong Un, called the Fed’s accusations "absurd rhetoric" and a "grave political provocation," according to a report from KCNA.
- BNB price faces an extended correction to $932 as sellers triggered a breakdown below a head-and-shoulders pattern.
North Korea rejected U.S. claims that it was involved in the historic security breach that stole over $6 billion in digital assets from Binance, the world’s largest cryptocurrency exchange. Kim Yo Jong, sister of North Korean leader Kim Jong Un, denied Pyongyang’s role in this hack and called the FBI’s accusations “absurd rhetoric” and a “grave political provocation” in a statement via state media, the Korean Central News Agency (KCNA), on Tuesday.
North Korea Rejects U.S. Claims on Theft of $6.3B from Binance
In late October 2026, Binance was hit by what is considered the largest cryptocurrency heist in history, with hackers stealing roughly $6.3B in digital assets. Following an investigation, the US Federal Bureau of Investigation (FBI) attributed the heist to “TraderTraitor,” an elite, state-sponsored North Korean cyber campaign.
However, on Tuesday, North Korea denied the allegations through the state news agency KCNA, where Kim Yo Jong, the influential sister of leader Kim Jong Un, released a statement that the U.S. accusations were “absurd rhetoric” and a “grave political provocation.”
“The FBI is trying to brand the DPRK as a ‘cyber criminal state,’ claiming that it obtained information that a hacking organization ‘supported’ by the DPRK was involved in the incident,” KCNA quoted Kim Yo Jong as saying. Here, DPRK stands for the Democratic People’s Republic of Korea.
“But the US assertion is absurd rhetoric and nothing new,” Kim said. “It is a grave political provocation against the DPRK that the US misleads international public opinion as if all the cybercrimes in different parts of the world are our deeds.”
Blockchain analytics firm Chainalysis suspects North Korea-linked hacks to account for nearly 89% of crypto hack losses in 2026, up from 15% reported in 2021. Their recent X post also mentioned that the average reported loss per hack from suspected DPRK-linked accounts has surged from $50.65M in 2021 to $185.65M in 2026 YTD, which is 3.7x larger. In the same period, these hacks total roughly $13.24B, or 59% of the $22.34B in overall reported crypto hack losses.
The timing of this finger-pointing is sensitive, as the U.S. President Donald Trump has recently made public overtures attempting to revive personal summit diplomacy with Kim Jong Un, but Pyongyang has notably remained silent.
As for Binance, it has recently completed a 7,499 BTC transfer from its SAFU fund—roughly half its holdings—to help cover losses from the recent hack, the exchange highlighted in an X post.
Furthermore, Binance recently announced the reopening of withdrawals for more assets beginning at 04:00 UTC on 2026-11-03. From the list below, not all assets will be available at once, and the rollout will run progressively as security and readiness checks are completed.
BNB Price Risks 9% Drop Amid Head and Shoulders Breakdown
On the hack day, October 29th, the BNB price witnessed an 8% drop, which breached the $705 support. This horizontal floor was part of a well-known reversal pattern— head and shoulders (H&S).
The chart setup is commonly spotted at the local price tops, accelerating the selling pressure in the asset.
Following the breakdown, the coin price attempted a retest of this breached support but failed to reclaim higher ground. In the last 48 hours, the Binance coin has dropped from $712.7 to $693, registering a fall of 2.66%.
If the pattern holds, the BNB price could drop another 9% and hit the next immediate support of $632.
