Crypto Hackers Linked to North Korea are Targeting the Wealthy

North Korean hackers have taken their cyberattacks to a new level this year, targeting wealthy cryptocurrency holders around the world. According to researchers, hackers connected to the regime have already stolen more than two billion dollars in digital assets in 2025 alone. This marks a record-breaking year for the secretive nation and highlights a worrying shift in their hacking strategy.

For years, hacking groups like the Lazarus Group have mainly attacked large cryptocurrency companies and exchanges. But investigators at the research firm Elliptic say the focus has now changed. Instead of going after businesses with strong cybersecurity systems, hackers are now hunting for rich individuals who keep large amounts of crypto in private wallets. Many of these individuals lack advanced security measures, making them easier targets.

Western intelligence agencies believe the stolen funds are being used to support North Korea’s nuclear weapons and missile programs. With heavy international sanctions cutting off legal sources of money, the regime is believed to rely heavily on cybercrime to fund its projects. Some reports even suggest that crypto thefts now make up around 13% of the country’s entire economy.

Dr. Tom Robinson, chief scientist at Elliptic, said that many thefts likely go unreported because victims fear reputational damage or lack evidence to prove who was behind the attacks. He added that while some cases clearly point to North Korea, others share similar hacking patterns but cannot be confirmed with certainty.

The year’s biggest known theft happened in February when hackers stole about 1.4 billion dollars from the crypto exchange ByBit. Other attacks followed, including a July hack on WOO X that took fourteen million dollars from nine users, and a $1.2 million theft from Seedify. The largest single loss by an individual this year reached a staggering $100 million. In total, more than thirty attacks in 2025 have been linked to North Korean hackers.

Elliptic estimates that since these operations began, North Korea has stolen over six billion dollars’ worth of digital assets. The hackers often move the stolen funds through complex blockchain transactions to hide their tracks, using techniques that make tracing extremely difficult.

In addition to hacking, the regime is also accused of running fake IT worker programs to secretly earn foreign income and bypass sanctions. While North Korea’s government continues to deny any involvement in cybercrime, experts warn that the attacks are growing more advanced and harder to stop.

As the digital world expands, the rise in targeted crypto thefts shows how dangerous online wealth can be when security is weak. For many investors, the new wave of North Korean hacking is a clear reminder that in the world of cryptocurrency, safety must come before profit.

Major players like Coinbase Global Inc. (NASDAQ: COIN) in the crypto space likely know they are attractive targets and will need to be vigilant by constantly improving their cybersecurity measures to stay ahead of any emerging threats.

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