North Korea Denies U.S. Crypto Theft Allegations as “Absurd Slander”

North Korea has dismissed fresh U.S. allegations that it is behind state-sponsored cryptocurrency theft, calling the claims “absurd slander” and a politically motivated smear campaign, according to state media outlet KCNA.

The denial comes despite new findings from blockchain intelligence firm TRM Labs, which reports that hackers linked to the Democratic People’s Republic of Korea (DPRK) stole roughly $577 million in cryptocurrency during the first four months of 2026 alone. This figure accounts for about 76% of global crypto losses in that period.

Two major April incidents made up the bulk of the total: an estimated $292 million exploit targeting KelpDAO and a $285 million breach of Drift Protocol.

TRM Labs data also highlights a sharp rise in North Korea’s role in global crypto crime. Its share of worldwide hacking losses has reportedly grown from under 10% in 2020–2021 to 64% in 2025, underscoring its increasing dominance in the digital asset threat landscape.

Amid the allegations, Pyongyang reiterated that it would “never tolerate” confrontation and would take “all necessary measures” to defend its interests.