South Korea delays Binance hack sanctions talks against North Korea

South Korea has yet to begin discussions on imposing additional sanctions against North Korea over its alleged involvement in the $6.3 billion Binance hack, although the country’s Foreign Ministry is reviewing measures targeting Pyongyang’s cyber activities. Summary South Korea’s Unification Ministry said on November 5 that discussions on sanctions specifically related to the Binance hack had not begun. The Foreign Ministry is separately reviewing possible measures against North Korean cyber activity, including unilateral sanctions, but has made no decision. The FBI attributed the October 29 theft of more than $6 billion in cryptocurrency to North Korea’s TraderTraitor operation. Kim Yo-jong rejected the U.S. accusation, describing it as a “grave political provocation.” Seoul continues cooperating with the United States and Japan on North Korean cyber threats while officials assess possible responses. Yonhap News Agency reported on November 5 that an official from the Unification Ministry said the government had not established the full circumstances of the October 29 cryptocurrency theft. The official explained that internal information-sharing would be necessary before authoritie...