US calls for international action against North Korean cyber threats after Binance hack

The United States on Saturday called for international cooperation to combat North Korea’s illicit cyber activities, particularly after a massive cryptocurrency theft involving Binance, one of the world’s largest cryptocurrency exchanges. The U.S. Federal Bureau of Investigation (FBI), the United States’ primary federal law enforcement agency, attributed the hack to North Korean actors.
A State Department spokesperson told Yonhap News Agency, South Korea’s major news agency, that it is critical for governments to work together to mitigate the Democratic People’s Republic of Korea (DPRK), North Korea’s official name, cyber threat and curb its illicit revenue generation. The spokesperson also emphasized the importance of enforcing existing international sanctions and taking proactive measures to prevent Pyongyang from financing its unlawful weapons of mass destruction (WMD) and ballistic missile programs.
The call for action came after approximately $6.3 billion to $6.43 billion in cryptocurrency was stolen from Binance on October 29, 2026. The FBI on October 31, 2026, identified the North Korean hacking group TraderTraitor as responsible for the hack. Binance initially halted all transactions and committed to covering all losses, resuming withdrawal services for customers by November 1, 2026, and stating that 98% of the stolen tokens had been reimbursed. Approximately $2.85 billion to $3 billion of the stolen funds have been frozen or confiscated.
North Korea, through Kim Yo Jong, sister of leader Kim Jong Un and a minister in the Workers’ Party Central Committee, denied the accusations on November 3, 2026, calling them a “grave political provocation.”
South Korea’s unification ministry, an executive body of the South Korean government that promotes relations with North Korea, stated on Thursday that Seoul had not yet begun discussing sanctions related to the incident because the circumstances surrounding the theft had not been fully established. Separately, South Korea’s foreign ministry, responsible for the country’s foreign policy and international relations, said it was internally reviewing possible additional measures, including unilateral cyber sanctions, but no decision had been made.
The U.S. State Department, an executive department of the U.S. government responsible for the country’s foreign policy and international relations, did not directly address whether Washington had shared investigative findings with Seoul or held bilateral discussions on additional sanctions concerning the incident.
North Korea is believed to have stolen over $6.5 billion through cryptocurrency thefts in recent years. A 2024 United Nations report indicated that North Korea’s illicit cyber activities provided 40 percent of the funding for its WMD programs.