Crypto thefts all-time high as North Korean hackers steal $2B
What's the story
North Korean hackers have been linked to a record surge in cryptocurrency thefts, with over $2 billion stolen in the first half of 2025. The figure (precisely $2.17 billion), reported by blockchain analysis firm Chainalysis, is already higher than the total crypto losses witnessed last year. The spike is also around 17% more than the same period in 2022, which was previously considered the worst year for crypto thefts.
Major breach
Most thefts tied to ByBit breach
The majority of the cryptocurrency theft this year can be traced back to a single breach at crypto exchange ByBit. North Korean hackers stole over $1.4 billion in crypto from the platform, much of which was later laundered and funneled into the North Korean regime, as per the investigations by the Federal Bureau of Investigation (FBI). Chainalysis has linked this incident to a wider trend of hacking by North Korea as part of its sanctions evasion strategies.
Cyber tactics
North Korea's growing threat
North Korea, a country largely isolated from the global community and international banking system, has emerged as a major threat in recent years. The regime targets Western companies to steal cryptocurrency to fund its sanctioned nuclear weapons program. It also employs thousands of remote IT workers who infiltrate tech companies for wages, steal intellectual property, and extort firms into paying not to publish their sensitive files.