North Korean Hackers Steal Record $2B in Cryptocurrency

North Korean hackers have stolen over $2 billion in cryptocurrency this year, a new record attributed to a $1.5 billion breach of Bybit, highlighting their increasing cyber prowess.

The spike in thefts underscores vulnerabilities in crypto exchanges, raising concerns about cybersecurity and prompting calls for robust measures to protect digital assets worldwide.

North Korea’s Record $2 Billion Crypto Theft Sparks Security Fears

North Korean hackers have set new records in cryptocurrency theft this year, with incidents surpassing $2 billion. The attack on Bybit in February resulted in the theft of up to $1.5 billion, which is a major contributor to this figure. North Korea’s hacking groups, described by cybersecurity analysts as highly organized and strategic, show an increasing tendency to prioritize fewer, larger-scale attacks.

Changes resulting from this event include a noticeable shift towards social engineering tactics. By placing their personnel inside cryptocurrency companies, North Korean operatives gain insider access, enabling them to conduct large-scale thefts more efficiently. This approach underscores the challenge of defending against internal threats in the cryptocurrency industry.

Market reactions to these developments have spotlighted the need for enhanced security measures. Pablo Sabbatella of SEAL has commented on the pervasive threat, noting that 30% to 40% of job applications received by cryptocurrency companies are believed to be North Korean operatives. “Attributing cyber thefts to North Korea is not an exact science,” Pablo Sabbatella adds, reflecting on the complexities of the situation. This revelation has sparked intense discussions around vetting processes and the need for robust cybersecurity protocols.

$6.7 Billion Stolen Since 2016: The Growing Threat of North Korean Hacks

Did you know? Since 2016, North Korean hackers have accumulated $6.7 billion in stolen cryptocurrency. Their shift to larger attacks began in 2025, marking a strategic evolution in their approach.

Based on CoinMarketCap data, Ethereum (ETH) is currently priced at $2,818.62 with a market cap of approximately $340.19 billion. Over the past 24 hours, its price has seen a slight dip of 0.33%, while over the past 90 days, it has decreased by 36.93%. These fluctuations highlight ongoing market volatility.

Insights from Coincu’s research team suggest that the North Korean theft could accelerate discussions on global regulatory frameworks for cryptocurrency security. As tactics evolve, the industry faces pressure to strengthen defenses and reduce vulnerabilities, necessitating collaboration among stakeholders.