By Ahmed Abdelsalam
North Korea’s suspected involvement in the massive Binance cryptocurrency heist underscores a decades-long effort to build state-sponsored cyber capabilities, analysts say.
The world’s largest crypto exchange lost approximately $6.36 billion in late October when hackers stole the funds within 20 minutes, in what is described as the largest such theft in history. While not officially confirmed, the FBI and blockchain analytics firm TRM Labs identified North Korea’s TraderTraitor hacking unit as the most likely perpetrator, an assessment supported by Chainalysis and Elliptic.
This is not the first time Pyongyang has been linked to major crypto thefts. Previous attacks attributed to North Korean state-sponsored hackers include the 2019 Upbit hack, which netted $42 million, and the 2025 Bybit hack, where $1.5 billion was stolen. North Korea has consistently denied involvement in state-sponsored cyber warfare.
Decades of strategic development
North Korea’s cyber operations stem from strategic investments dating back to the 1980s, when the state established domestic computing infrastructure, specialized educational institutions, and state-led research centers. The Korea Computer Center was founded in 1990 to oversee national IT development, and in 1995 then-leader Kim Jong-il directed the military to develop cyber capabilities as a strategic component of national defense.
