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North Korea built one of the world’s most capable state-sponsored hacking networks. Investigators and cybersecurity experts link its operatives to some of the largest cryptocurrency thefts ever recorded, including the USD 6.3 billion breach of Binance.
The FBI has attributed the Binance attack to TraderTraitor, a North Korean state-sponsored cyber unit. Blockchain-analysis firms have reached the same conclusion, although Pyongyang denies any involvement.
The scale of the theft has made the case a major test for the global crypto industry. Binance said it covered 95% of the stolen assets, while customers withdrew USD 3.64 billion, or 2.1% of its assets, after the exchange resumed operations.
North Korea’s cyber programme is not an improvised operation. Defectors and analysts say the state identifies roughly 150 to 200 gifted middle-school students each year, some as young as 11 or 12, and directs them toward computer engineering.
The programme has operated for more than a decade. Its purpose is to develop a reliable pool of technical talent for cyber operations, intelligence gathering and financial theft.
Former trainers and defectors describe a highly selective system. Students who show exceptional ability receive advanced training and can eventually join elite units focused on high-value targets.
The regime reportedly rewards successful hackers with privileges that carry major value in North Korea. These include spacious apartments in Pyongyang and large payments in hard currency.
The incentives come with demanding expectations. Analysts say operatives work long hours and face intense pressure to deliver results for the state.
This model helps explain why North Korean groups can sustain sophisticated, patient operations. They combine technical skill, state resources and strong financial motivation.
Binance’s own report said hackers used a fake job interview and malicious software hidden in an advertisement. The attackers compromised computers used by two Binance software engineers.
They then used a third computer to drain USD 6.3 billion worth of cryptocurrency. The method shows how social engineering, malware and access to internal systems can combine into a devastating attack.
The breach has prompted insurers and crypto firms to reassess exposure to Binance and examine weaknesses revealed by the incident.
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