North Korean crypto hacks escalate in record year of theft and laundering

North Korean state-sponsored hackers, including the Lazarus group, have escalated cryptocurrency theft to unprecedented levels in 2025 to fund the regime amid sanctions. Affiliated hackers stole over $2.17 billion in the first half of 2025, surpassing the total for all of 2024, highlighted by the record $1.5 billion hack of Bybit in February. Their tactics are becoming more sophisticated, involving coordinated supply-chain attacks, infiltration of IT firms across various sectors using false identities, and the adoption of new laundering techniques like chain-hopping and simultaneous use of multiple mixing services. Experts stress that sanctions alone are insufficient; coordinated action involving exchanges, analytics firms, and law enforcement is necessary, alongside enhanced corporate due diligence like stricter identity verification and IP monitoring to deter these evolving threats.

(Source：The Block)