G7 Prepares to Confront Crypto Threats from North Korean Hackers

TL;DRThe G7 is considering including North Korea’s crypto cyberattacks, which help fund its weapons program, in its June summit.North Korea has spent a decade refining a hacker network that steals crypto through malware, impersonation and DeFi protocol attacks.Despite sanctions, 61% of all crypto thefts in 2024 came from North Korean groups using shell companies and fake identities.G7 leaders are considering adding a debate to their upcoming June summit on the cryptocurrency cyberattacks and thefts carried out by North Korea.The decision hasn’t been finalized yet, but the issue is a growing concern for several delegations due to the role these crimes play in funding the regime’s weapons programs. The stolen funds allow Pyongyang to bypass international sanctions and channel resources into ballistic missile and nuclear weapons projects.The Industry’s Biggest NightmareFor the past decade, North Korea has built a hacker infrastructure specialized in targeting cryptocurrency companies and blockchain protocols. Groups like Lazarus have executed some of the largest thefts ever recorded in the industry, conducting operations that combine malware, identity theft, fake job interviews, and breaches of DeFi infrastructures. In 2024 alone, they stole around $1.34 billion in 47 attacks. In 2025, they set a new record by raiding Bybit, stealing $1.5 billion in a single operation.This large-scale digital asset theft affects not only exchanges and protocols but also tech companies and job platforms. Hackers linked to North Korea use false identities to apply for engineering and development positions, aiming to infiltrate firms and extract either information or funds. According to U.S. authorities, thousands of North Korean IT workers operate from China and Russia, generating income for state-controlled entities through fake accounts, websites, and profiles.61% of 2024’s Crypto Thefts Were North KoreanThe U.S. Department of Justice and its allies have responded with sanctions and financial restrictions targeting individuals, groups, and businesses involved in laundering these funds. However, the operations keep growing in both sophistication and reach. Some companies have recently detected new shell firms created by these groups to distribute malware aimed at cryptocurrency developers.Despite enforcement actions, regulations, and cybersecurity warnings, crimes linked to North Korea continue to dominate global cryptocurrency theft statistics. In 2024, they accounted for 61% of all stolen assets — a figure that underscores the challenge these illegal operations pose to authorities and the broader crypto ecosystem