Trump on ₩8 Trillion Binance Hack: “Looking Into Whether North Korea Was Behind It” — Potential Setback for North Korea-U.S. Talks

[Financial News] U.S. President Donald Trump said he is looking into whether North Korea was behind the largest hacking incident ever at Binance, the world’s largest cryptocurrency exchange. If North Korea’s involvement is ultimately confirmed, it is expected to harm talks with North Korean leader Kim Jong Un that Trump had been pursuing for November. The incident caused losses of $6.36 billion (₩8.4 trillion), the largest ever from a single hack in the digital asset industry. The Federal Bureau of Investigation (FBI) and the United States Secret Service (USSS) have already launched investigations.
U.S. President Donald Trump said on the 30th (local time) that an investigation was underway into whether North Korea was behind the hacking of Binance, the world’s largest cryptocurrency exchange. At the White House that day, Trump was asked by reporters, “Do you think the Binance hack was carried out by a North Korean hacking group?” He replied, “We don’t know. We’re looking into it.”
When asked about the prospects of recovering the stolen funds, Trump said, “They say they’ll get it back,” and added that he had considered cryptocurrency somewhat risky. He made no particular comment, however, about any connection to North Korea-U.S. talks.
Many analytics firms are pointing to North Korea as being behind the incident. Blockchain analytics firm TRM Labs assessed that TraderTraitor, an elite North Korean hacking group, stole approximately $6.36 billion (₩8.4 trillion) across 10 blockchains, with most of the funds siphoned off within 20 minutes.
Another analytics firm, Elliptic, also concluded that the attack was carried out by North Korea-linked hackers.
Attention is also focused on whether the hacking incident could affect the resumption of North Korea-U.S. talks. Trump had been pursuing a meeting with North Korean leader Kim Jong Un during a visit to China in November to attend the Asia-Pacific Economic Cooperation (APEC) summit. If an investigation confirms a link to the North Korean authorities, it could also hinder the resumption of North Korea-U.S. talks.
Meanwhile, Binance is working with law enforcement agencies at home and abroad, including the FBI and USSS, to trace those behind the attack. However, investigative authorities have not yet announced that they have officially identified North Korea as responsible for the attack.
The FBI said, “We are aware of the incident and are working with relevant public- and private-sector partners to determine the scope of the activity, assess potential impacts and coordinate appropriate investigative steps.”
The USSS also said, “Investigators are working with private-sector partners, including Circle, to identify, freeze, trace and recover funds stolen from Binance,” and added that it was “coordinating with the U.S. Attorney’s Office for the District of Columbia and law enforcement partners to identify the cybercriminals responsible.” The United Arab Emirates’ Financial Services Regulatory Authority (FSRA) also said it was aware of the matter and “is closely monitoring the incident in consultation with Binance.” [email protected] Kim Kyung-soo, reporter

[email protected] Kim Kyung-soo Reporter