North Korean Cryptocurrency Hacking Incidents Surge, 2025 Sees Record High in Theft and Money Laundering

On December 29th, Chainalysis data cited by The Block reveals North Korean hackers stole a record $2.17 billion in cryptocurrency in 2025—including nearly $1.5 billion in Ethereum from the Bybit exchange, marking the largest single crypto hack in history. Additionally, North Korean hackers are accused of recently stealing $37 million in an attack on South Korean exchange Upbit. Despite international sanctions, North Korea’s cyberattacks continue to escalate, with groups like Lazarus refining their tactics to exploit vulnerabilities in the global blockchain and crypto ecosystem. Chainalysis Director of National Security Intelligence Andrew Fierman noted sanctions alone are far from sufficient: coordinated industry-wide action is needed to counter North Korea’s increasingly sophisticated hacker and money-laundering network. The regime is expected to keep relying on crypto hacks as a key revenue source.