North Korea Denies $6.3B Binance Hack, Calls FBI Finding a 'Political Provocation'

What happened: North Korea denied U.S. findings that it was behind the Binance hack, with Kim Yo Jong calling the FBI attribution a "grave political provocation," Yonhap reported. Key numbers: FBI attributed theft of more than $6 billion; Binance reported $4.72 billion in net withdrawals since Sunday against about $157 billion in total Why it matters: Chainalysis expects the scale of the theft to strain the actors' trusted laundering channels, pushing funds toward bridges, instant exchanges and swapping services. Binance said hourly deposits began exceeding withdrawals late on Monday. Coverage: 15 outlets in 24h

North Korea denied U.S. findings that it was behind the Binance hack, with Kim Yo Jong calling the FBI attribution a "grave political provocation," Yonhap reported.

Chainalysis expects the scale of the theft to strain the actors' trusted laundering channels, pushing funds toward bridges, instant exchanges and swapping services. Binance said hourly deposits began exceeding withdrawals late on Monday.