2025-10-07T12:07:08Z

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Imagine a world where the tactics of high-stakes hackers can rival the plots of blockbuster heist movies. That’s the chilling reality as North Korean hackers have reportedly pilfered more than $2 billion from crypto holders in just one year, a staggering figure that speaks volumes about the escalating cyber warfare we face today.

According to researchers, this record-breaking theft has become a significant source of income for the North Korean regime, now accounting for roughly 13% of the nation’s GDP, as estimated by the United Nations. How has this happened? Over recent years, hacking groups like the notorious Lazarus Group have honed in on cryptocurrency companies, executing massive thefts of digital tokens. But as it turns out, the hackers have shifted their attention to high-net-worth individuals, who often lack the robust security measures that businesses put in place to protect their assets.

Dr. Tom Robinson, chief scientist at the blockchain analytics firm Elliptic, highlights a disturbing trend. "The targeting of individuals, which is less likely to be disclosed, means the true figure for hacks carried out by North Korea could be even higher," he explains. This indicates a shadowy underground of unreported thefts, as pinpointing the origins of cyber crimes isn’t always straightforward.

Security agencies in the West assert that these stolen funds are being funneled into North Korea’s controversial nuclear weapons and missile development programs, giving the world even more reason to be alarmed. While the North Korean embassy in the UK has been approached for comments, they have historically denied any involvement in hacking activities.

Companies like Elliptic and Chainalysis specialize in tracing the flow of stolen cryptocurrencies like Bitcoin and Ethereum, following the public transaction ledgers that make up the blockchain. These experts have identified distinct patterns that North Korean hackers repeatedly use, revealing a meticulous and calculated approach to cyber crime.

As it stands, the total value of stolen crypto assets attributed to North Korea has now surpassed $6 billion, with 2023 shaping up to be their most lucrative year yet. The most significant hack attributed to the regime occurred in February when hackers made off with a jaw-dropping $1.4 billion from the crypto exchange ByBit. But this was just the tip of the iceberg; analysts have linked more than 30 additional attacks to North Korea this year alone.

From a $14 million heist on WOO X in July to a $1.2 million theft from Seedify, the scale of these operations is staggering. Notably, the highest individual theft reported this year reached an astounding $100 million. To put this in perspective, the previous record for North Korean cyber theft was a comparatively small $1.35 billion in 2022.

The regime isn't just relying on cyber crime; it is also increasingly suspected of running a sophisticated fake IT workers program designed to generate additional income while sidestepping international sanctions. This intricate web of deception and theft paints a picture of a regime that is as resourceful as it is ruthless.