On November 2, Foreign Ministry spokesman Mao Ning presided over a regular press conference.
Yonhap reporter asked two questions. The first question is that the North Korean Missile Agency conducted a test on October 31 to assess the damage capability of tactical ballistic missiles. This test violated the United Nations Security Council resolutions regarding North Korea. Moreover, this test took place at a time when South Korea proposed military talks with North Korea, and North Korea has yet to respond. How does China evaluate North Korea's test?
The second issue is that on October 31, the Federal Bureau of Investigation in the United States stated that North Korea was behind the cyberattack on Binance, the world’s largest cryptocurrency exchange. The stolen assets amounted to approximately $6.3 billion. U.S. President Trump said that if this is true, he will discuss this issue with North Korea. How does China view this incident and President Trump’s statement?
Mao Ning said that regarding the first issue, the Chinese side has taken note of the relevant reports and also noted the recent statements made by the North Korean side regarding the military activities of the United States, South Korea, and Japan. We hope that the relevant parties will confront the root causes of the Peninsula issue, adhere to the general direction of political resolution, and make efforts to ease tensions and maintain regional peace and stability.
Your second question, we do not understand the situation.
According to previous reports, on October 30 local time, Binance, the world's largest cryptocurrency exchange, announced that due to a security vulnerability, the exchange was hacked, resulting in the theft of cryptocurrencies worth approximately $6.3 billion.
The blockchain intelligence agency TRM stated that this case is the largest cryptocurrency theft in recorded history. The stolen assets include mainstream cryptocurrencies, such as Bitcoin and Ethereum, as well as stablecoins like USDT and USDC, which are pegged to the US dollar.
On November 1st, local time, Binance announced that it has already compensated approximately 95% of the losses incurred. Binance previously stated that it would compensate users for their entire losses. The compensation funds come from the Customer Security Fund (SAFU), futures insurance funds, and its own assets. Binance reiterated: “The losses caused by the theft shall be borne by Binance, not by the users.”
Additionally, the suspended withdrawal services, which were put on hold to control losses and assess the impact, are being phased out. Binance will release a detailed report on this incident after the investigation is completed.
