North Korean hackers had their biggest year yet for stealing cryptocurrencies in 2025.
Cyber attackers sponsored by the rogue regime have swiped over $2.02 billion in crypto since January, according to the latest findings from blockchain analytics firm Chainalysis.
Through early December, the Chainalysis report shows thieves supported by North Korea have stolen over 50% more in crypto this year than in 2024, bringing their total identified haul from crypto theft since 2016 to $6.75 billion.
The findings are just the latest example of how the heavily sanctioned nation has exploited security vulnerabilities in the crypto world to create a significant revenue source.As far back as 2019, national security officials for the US and UN have stated that funds stolen from these affiliated hacker groups support North Korea's nuclear weapons and missiles programs.
"The reality is that cryptocurrency, because of its global 24/7 access, creates a unique value proposition for the regime to target," Chainalysis head of national security intelligence Andrew Fierman said.
The crypto industry saw $3.4 billion in theft in 2025 through early December, according to Chainalysis. The bulk came from a single breach in late February, when Dubai-based exchange Bybit suffered a $1.5 billion theft at the hands of North Korea-affiliated hackers. In terms of stolen funds, it was the industry's largest ever.
Crypto heists have become "the easiest way for DPRK cyber actors to fund their regime," said Eun Young Choi, an attorney at Arnold & Porter and a former federal prosecutor with experience investigating cyberattacks.
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Hackers have not only become more sophisticated in how they steal and launder proceeds, according to Choi, but also benefited from the crypto industry's growth in value and adoption, which has created more opportunities and reasons to exploit potential cyber vulnerabilities.
Following this year's Bybit robbery,hackers laundered stolen fundsusing a complex web of maneuvers, including moving the assets across multiple digital wallets and blockchains, sending some of the funds through decentralized finance (DeFi) apps.
Earlier this week, Sen. Elizabeth Warren, the top Democrat on the Senate Banking Committee, sent a letter to the US Treasury and Justice Department calling for an investigation into how North Korean hackers and other illicit actors are using decentralized finance protocols to fund the regime.
And whiledigital asset prices have soured in recent weeks, the industry has realized a number of wins on the policy front this year as the Trump administration pushed to make the US the "crypto capital of the world."
Crypto "adoption only presents potentially more opportunity, but I think North Korea is simply just being more targeted and patient in finding the right candidates to exploit," Chainalysis's Fierman added.
David Hollerith covers the financial sector,ranging from the country's biggest banks to regional lenders, private equity firms, and the cryptocurrency space.
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