North Korea's 2025 Crypto Heists Top $2 Billion
North Korea's hacking activity in 2025 has reached unprecedented heights, with state-sponsored cybercriminals stealing over $2 billion in crypto. This figure surpasses the previous record of $1.35 billion set in 2022.
The surge in crypto-related activity was marked by several high-profile heists, including a $1.46 billion theft from the Bybit exchange in February. In September, SBI Crypto was exploited for $21 million. Other platforms like LND.fi, WOO X, and Seedify also fell victim to North Korea-linked hackers. Experts at Elliptic estimate that these known crypto attacks, along with unreported individual targets, push the total stolen assets well beyond $2 billion.
The majority of these crypto hacks were carried out through social engineering attacks, targeting people directly rather than exploiting software vulnerabilities. This shift in tactics is a departure from North Korea's previous hacking strategies. Since 2017, the country has amassed at least $6 billion through crypto thefts, making it one of the most prolific cybercriminal states.
The increase in North Korea's hacking activity and the shift in tactics highlight the evolving threat posed by state-sponsored cybercriminals. As crypto becomes more mainstream, it is crucial for exchanges and investors to enhance their security measures to combat these sophisticated crypto attacks.
