North Korean-linked Hackers Pull in Over $2 Billion in Crypto Theft Amid Surge in Mega-Heists
Hackers associated with the North Korean regime have reportedly stolen more than US$2 billion in crypto assets so far in 2025, marking the largest annual haul on record. That figure comes from recent analysis by blockchain forensics firm Elliptic, which warns that this uptick underscores Pyongyang’s increasing reliance on cybercrime to support its weapons programs.
A particularly large exploit feeding into that total was the February 2025 heist of approximately $1.46 billion from Bybit, a major cryptocurrency exchange. The FBI and forensic teams have attributed the attack to a North Korean hacker group known as TraderTraitor, believed to be part of the Lazarus network. Attackers reportedly accessed an Ethereum wallet, moved funds quickly through many addresses and obfuscation layers, and began laundering through other tokens and chains.
Beyond Bybit, the reported thefts include attacks on smaller exchanges, decentralized finance (DeFi) platforms, and individual holders. Elliptic’s data shows over 30 additional incidents in 2025 tied to North Korea, often involving social engineering, compromised private keys, or impersonation tactics. Many thefts exploit weak cybersecurity in centralized platforms—making them juicy targets.
The implications are significant. These stolen assets are believed to help fund North Korea’s nuclear and ballistic missile programs, according to multiple intelligence sources. The scale of the thefts also challenges global crypto security norms, pushing exchanges, governments, and regulators to strengthen policies: better private key management, tighter KYC (Know Your Customer) rules, vigilant tracking of anomalous wallet activity, and faster cooperation across jurisdictions.
While exact figures are hard to pin down due to obfuscation and laundering, Elliptic’s report suggests that unless there’s immediate improvement in defense and monitoring, 2025 may end up with a crypto theft record not easily reversed.
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