Asger Risom
North Korean hackers stole an estimated $2 billion in cryptocurrency this year — a record-breaking haul that once again makes the country the world’s most prolific crypto thief, according to a new industry report.
North Korean hackers stole an estimated $2 billion in cryptocurrency this year — a record-breaking haul that once again makes the country the world’s most prolific crypto thief, according to a new industry report.
The thefts accounted for about 59% of the more than $3.4 billion in cryptocurrency stolen globally in 2025, Chainalysis said in its annual Crypto Crime Report released Thursday.
“North Korea’s sophistication and effectiveness in laundering stolen crypto continues to improve,” Andrew Fierman, Chainalysis’ head of national security intelligence, said in the report. He warned that exchanges and crypto firms need stronger security controls as attacks grow larger and more complex.
Why crypto theft is surging
The findings come as cryptocurrency investing becomes increasingly mainstream. More individuals and institutions now hold digital assets, and unlike traditional banking transactions, crypto transfers are largely irreversible — making successful hacks extremely lucrative.
Chainalysis, a blockchain analytics firm that works with governments and private companies, has tracked crypto-related crime since 2019. Its latest report shows that 2025 set a new high-water mark for large-scale thefts.
How North Korea pulled it off
According to Chainalysis, North Korean hackers used a mix of technical skill and deception rather than relying on a single method.
In some cases, North Korean operatives posed as overseas IT workers and secretly gained employment at crypto companies, sometimes using AI tools to disguise their identities and locations. Once inside, they were able to access sensitive systems and facilitate major breaches.
Hackers also relied heavily on social engineering — sending convincing emails or messages designed to trick victims into clicking malicious links, allowing attackers to drain private crypto wallets.
The biggest crypto hack ever
The largest single theft occurred in February, when crypto exchange Bybit lost $1.4 billion in a single breach — the biggest crypto hack on record. The FBI publicly blamed North Korea for the attack, which alone accounted for roughly 40% of all crypto stolen this year.
Overall, Chainalysis found that large-scale hacks dominated in 2025, with more than two-thirds of stolen funds coming from just three major incidents.
A growing threat to individuals
The report also highlights a sharp rise in attacks on individual crypto holders. There were about 158,000 personal wallet compromises in 2025, nearly triple the number recorded in 2022.
Some cases involved physical violence, known in the crypto world as “wrench attacks,” where criminals force victims to hand over access to their wallets. Earlier this year, kidnappers in France reportedly severed a finger of a crypto executive while demanding a ransom.
“If you’re publicly talking about your success in crypto, I’d recommend not doing that,” Fierman said. “It can make you a physical target.”
A persistent problem
North Korea has repeatedly been accused of using stolen cryptocurrency to fund its government and weapons programs, making crypto theft a key source of revenue for the heavily sanctioned state.
The latest figures suggest that, despite increased awareness and enforcement, North Korea remains ahead of defenders — and that crypto crime is becoming more concentrated, more violent, and more difficult to stop.
Sources: Chainalysis
