US-NK crypto theft

By Chang Dong-woo

WASHINGTON, Nov. 3 (Yonhap) -- The United States on Tuesday reiterated concerns over North Korea's use of cybercrime to finance its weapons programs, following a denial from the North Korean leader's sister Kim Yo-jong of allegations that Pyongyang was behind a multibillion-dollar theft from cryptocurrency exchange Binance.

On Tuesday (Korean time), the powerful sister of North Korean leader Kim Jong-un flatly dismissed the findings of the U.S. Federal Bureau of Investigation (FBI) accusing Pyongyang for a crypto theft of over US$6 billion from Binance, the world's largest cryptocurrency exchange, calling it a "grave political provocation" against the North.

The FBI linked the theft to a North Korean hacking group it calls TraderTraitor, a name previously tied to other cryptocurrency heists.

"The issue of DPRK cybercrime is a global problem that touches companies and jurisdictions around the world, including the United States," a U.S. State Department spokesman told Yonhap News Agency, referring to North Korea's official name, the Democratic People's Republic of Korea, when asked about the department's position regarding the North's latest claim.

"In recent years, the DPRK has increasingly turned to cybercrime to circumvent international sanctions and fund its unlawful weapons of mass destruction and ballistic missile programs," the spokesperson said. "Cryptocurrency heists and laundering have become a significant part of this strategy."

"The United States works closely with like-minded countries to disrupt and condemn destructive and destabilizing behavior in cyberspace," the spokesperson added. "It is vital for governments, network defenders and the public to stay vigilant and work together to mitigate the DPRK cyber threat."

North Korea has been blamed for cyber thefts before and has denied any involvement. It is rare for Kim Yo-jong to issue a statement on a hacking incident.

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