North Korean Hackers Have Stolen $2 Billion in Cryptocurrency in 2025

North Korean threat actors are estimated to have stolen more than $2 billion in cryptocurrency during the first nine months of 2025, according to blockchain analysis firm Elliptic. This marks an annual record for North Korean hackers, with the cumulative value of the stolen cryptocurrency assets surpassing $2 billion.

In 2025, most of the attacks were conducted through social engineering rather than exploiting vulnerabilities in crypto infrastructure. The hackers primarily targeted cryptocurrency exchanges, but many high-net-worth individuals were also affected.

In response to advanced blockchain analytics and more effective tracking of illicit cryptocurrency, North Korea has resorted to more complex techniques to launder the stolen assets. The hackers now depend on multiple rounds of mixing and cross-chain transactions, utilizing obscure blockchains to obstruct analysis. They purchase utility tokens of specific protocols to minimize costs, redirect assets to fresh wallets by exploiting “refund addresses,” and create and trade tokens issued directly by the laundering networks.

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