Trump made it clear about the incident, declaring, “This was certainly a hacking attack.”
Strengthening Ties to North Korea
These comments from Trump surfaced after analyses from blockchain tracking firms suggested that hacker groups associated with North Korea might have orchestrated the attack on Binance.
According to investigations by blockchain analytics firms TRM Labs and Chainalysis, the hacking incident may have been executed by a North Korean-affiliated group known as TraderTraitor.
TRM Labs pointed out that the techniques employed by the hackers resembled those used in significant cryptocurrency thefts previously linked to North Korean activities. Their technical analysis led them to confidently associate the attack with this notorious hacking group.
This group has also been implicated in the February 2025 incident that saw about $1.5 billion in cryptocurrency stolen from the Bybit exchange.
Despite Trump’s assertions, it appears the US administration has not yet formally accused North Korea of being responsible for the Binance breach.
*This is not investment advice.