North Korea Steals Over $6 Billion in Crypto to Fund Nuclear Program
North Korea has emerged as the world’s leading cybercriminal state, orchestrating thefts of more than $6 billion worth of cryptocurrency over the past decade. These sophisticated cyber operations directly funnel resources to Kim Jong Un’s nuclear ambitions, highlighting the regime’s audacious strategy to bypass international sanctions.
The latest significant breach occurred on July 18 when North Korean hackers targeted WazirX, India’s largest cryptocurrency exchange, swiftly pilfering over $200 million. Within just an hour, hackers executed more than 400 automated transactions, rapidly dispersing the stolen funds through global crypto networks, making recovery efforts nearly impossible.
Experts emphasize the meticulous nature of North Korea’s cyberattacks. Hackers painstakingly research employees’ social media profiles, crafting tailored phishing scams to infiltrate corporate systems. Alarmingly, some operatives have even secured positions within U.S. tech companies as remote IT workers, using stolen identities to access sensitive infrastructure.
“North Korean hackers are playing a different game than anyone else,” said Nick Carlsen, a former FBI analyst now working with blockchain analytics firm TRM Labs.
The regime’s record-breaking $1.5 billion hack of cryptocurrency exchange Bybit earlier this year underscores the severity of the threat. According to Chainalysis, North Korea accounted for over 60% of global crypto thefts in 2024 alone.
Pyongyang maintains approximately 8,000 cyber operatives, rigorously trained and managed with military precision. Young talents skilled in math and science are recruited and subjected to intense training programs. Despite harsh working conditions, these cyber units live relatively comfortably compared to most North Koreans.
The stolen funds significantly bolster North Korea’s heavily sanctioned economy, sustaining its costly nuclear and ballistic missile programs. South Korean intelligence estimates that Pyongyang needs about $6 billion annually to maintain governmental functions and military advancements.
“Crypto theft offers a low-risk way for Pyongyang to fill its coffers,” said Eric Penton-Voak, former coordinator of the U.N. panel overseeing sanctions against North Korea. “It’s very expensive to be a sanctioned country.”
As the cryptocurrency market continues to attract investment, authorities worldwide remain on high alert. The FBI recently warned that North Korean hackers are actively targeting crypto-related financial institutions and exchange-traded funds, leveraging advanced phishing techniques and malware attacks.
“The North Koreans are very pragmatic and just want to get things done—that’s what makes them special,” noted Joon Kim, head of Seoul-based Naru Security. “The threat is evolving rapidly.”
Despite global investigations, the elusive nature of crypto theft poses persistent challenges. Only a small fraction of stolen assets has been recovered, underscoring the need for heightened cybersecurity measures in an increasingly digital financial landscape.
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