THE INDEPENDENT · 2026-11-03 12:17 UTC

How North Korea became a state-sponsored cybercrime leader even before Binance hack

Binance suffered a $6.36 billion hack in late October, with the FBI and blockchain analytics firms attributing it to North Korea's TraderTraitor hacking unit. North Korea has conducted multiple cryptocurrency exchange thefts including the 2019 Upbit hack ($42 million) and 2025 Bybit hack ($1.5 billion). North Korea developed state-sponsored cyber capabilities starting in the 1980s through specialized institutions and military directives, with an estimated 8,400 trained cyber personnel as of 2024.

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