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The FBI accused North Korean hackers of embezzling $6.3 billion from Binance, but Trump publicly expressed reservations and said he would negotiate with Pyongyang if confirmed. This incident has once again highlighted the relationship between the United States and North Korea and the threat of North Korean cyber attacks.
The Daily Mail reported that the world’s largest cryptocurrency exchange Binance and the FBI (FBI ) has just determined who is the mastermind behind the scenesnorth korea Unexpectedly, a few hours later, President Trump publicly questioned whether North Korea was actually involved in the hacker organization. He also said that if it was confirmed that North Korea was responsible, he would contact the hacker organization directly.Pyongyang Conversation. The turmoil comes at a time when relations between Trump and North Korean leader Kim Jong-un are cooling and has once again drawn attention to Trump’s attitude toward North Korea.
When reporters at Mar-a-Lago, Florida, asked Trump about the results of the FBI investigation on the evening of October 31, he said that the US government was still learning about the entire incident. He said, “We don’t know whether North Korea has done this or not. If it is true then we will talk to North Korea.” He further added, “I have always felt that this matter is a bit dangerous. However, Binance said that the situation is generally under control. We will see.”
Hours before Trump spoke, the FBI’s Cyber Crimes Division announced that an investigation had confirmed that the unprecedented hacking attack was carried out by the North Korean malicious network organization Trader Traitor. The organization is believed to be affiliated with the notorious “Lazarus Group” and has been involved in several major hacking attacks in the past, including the 2014 hack of Sony Pictures for the film “The Interview” mocking Kim Jong-un.
Binance said on October 29 that the hacking attack caused losses of approximately US$6.3 billion. Co-CEO Richard Teng explained that the hackers used a self-destruct mechanism to make tracing more difficult and the company promised to cover all losses. Binance further said on October 31 that it had recovered 90% of the stolen cryptocurrencies, and that the remaining 10% would take longer to buy back due to low liquidity.
North Korea has long been accused of using cybercrime to obtain foreign currency to finance its military and nuclear weapons programs. A UN expert panel found in 2024 that income from cyber attacks accounted for almost half of North Korea’s foreign exchange earnings. Security officials have previously warned that North Korea’s hacking operations not only involve financial crimes but could also become an important source of funding for its nuclear weapons and missile development.
On October 23, Reuters quoted five people familiar with the matter as saying that the chances of seeing a Trump-Kim meeting this year are gradually decreasing. The United States previously tried to arrange a meeting between the two sides before the APEC summit in November, but received no response from North Korea. When Trump was asked about this a few days ago, he still emphasized: “I get along very well with him, and I’m not sure anyone would have asked to arrange a meeting.”
Trump met Kim Jong-un several times during his first term and in 2019 became the first US president to set foot on North Korean soil. The two sides also issued a joint statement on the denuclearization of North Korea in 2018. However, according to the Stockholm International Peace Research Institute (SIPRI), North Korea not only failed to achieve denuclearization but continued to expand its nuclear arsenal.
Patricia Kim, a senior fellow at the Brookings Institution, analyzed that compared to 2018, Kim Jong-un is now in a more favorable position. They have not only broken past diplomatic isolation by establishing a new security partnership with Russia and deepening economic and political ties with China, but have also continued to expand their nuclear weapons and missile capabilities. As the international situation changes, the United States may face greater difficulties in forcing North Korea to take responsibility for cyber crimes through diplomatic pressure.
Summary FAQ
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The FBI’s Cyber Crimes Division said an investigation confirmed that this unprecedented attack was carried out by the North Korean malicious network organization Trader Traitor, which is believed to be affiliated with the Lazarus Group and is linked to several major hacking cases.
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Trump said the US was still learning about the incident and did not know whether North Korea was actually responsible. He also said that if it was ultimately confirmed that the incident was involved, he would speak directly to North Korea, indicating that he objected to the investigation’s findings.
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Reports indicate that North Korea has long obtained foreign currency through cybercrime, and a portion of the income has been used to fund military and nuclear weapons programs. As relations between Russia and China strengthen, the outside world is also concerned that it will be more difficult for the United States to shoulder responsibility through diplomatic pressure.
