North Korea denies role in Binance heist as customers withdraw billions

In short: North Korea has denied FBI allegations accusing the country of stealing $US6.3 billion from crypto exchange platform Binance. Ruling party official Kim Yo Jong dismissed the allegations as "absurd rhetoric and nothing new" from the US. Binance customers have withdrawn $US4.64 billion after the company lifted a temporary suspension on withdrawals. North Korea has denied US allegations that it was behind the $US6.3 billion ($9 billion) heist of cryptocurrency exchange platform Binance as "absurd rhetoric" and proof that Washington remained hostile towards the country. In a statement published by North Korean state media, Kim Yo Jong, the influential sister of leader Kim Jong Un, denied the country was responsible for carrying out last week's hack, thought to be the largest financial heist in history. Ms Kim also warned the country had "issues to reconsider" over US hostility. "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," she said in the statement. "But the US assertion is absurd rhetoric and nothing new. "It is a grave political provocation against the DPRK that the US misleads international public opinion as if all the cyber crimes in different parts of the world are our deeds." On Saturday, the FBI accused a North Korean state-sponsored unit known as TraderTraitor of carrying out the hack and stealing billions in crypto. The US bureau said it had observed TraderTraitor converting stolen assets into a cryptocurrency called Ethereum and expected it to launder the assets further. "The FBI maintains its commitment to protecting the virtual asset community by identifying, mitigating, and disrupting North Korea's illicit cybercrime and virtual asset theft activities," a statement read. Cybersecurity experts said North Korean hackers were among the world's most prolific crypto thieves, with the proceeds used to help fund the country's weapons programs. North Korea has denied all allegations of its links to cryptocurrency theft and other cybercrimes. Ms Kim said North Korea would reconsider unspecified issues in light of the "very unpleasant US hostile attitude". It comes as Pyongyang remains silent on US President Donald Trump's offers to resume US-North Korea summit diplomacy. Experts have indicated Pyongyang may be weighing its options. Customers withdraw billions Binance customers withdrew about $US4.64 billion ($6.6 billion) worth of assets after the company lifted its temporary suspension on Sunday. "Between 06:00 and 15:30 UTC on November 1, we processed $4.649 billion in withdrawals and $1.01 billion in deposits, resulting in a net outflow of approximately $3.64 billion," the company said on X. "Our team continues testing rigorously the remaining networks and assets. "Rest assured that market conditions are stable." The company said it had recovered 90 per cent of the stolen assets by using company money. Reuters/ABC