North Korean hackers have stolen more than $2 billion (£1.49 billion) in cryptocurrency so far this year, researchers say.
The record-breaking thefts are now estimated to account for around 13% of North Korea’s entire GDP, according to the United Nations.
Hackers linked to the regime, including the notorious Lazarus Group, have long targeted cryptocurrency companies for large-scale heists.
However, new research by blockchain analytics firm Elliptic shows a growing focus on high net worth crypto holders. These individuals, experts warn, often lack the strong security measures used by major firms.
Western intelligence agencies believe the stolen funds help finance North Korea’s nuclear weapons and missile programmes, increasing global security concerns.
Dr Tom Robinson, chief scientist at Elliptic, said the real figure could be even higher due to underreporting. “Other thefts are likely unreported and remain unknown,” he explained, noting the difficulty of tracing cyberattacks to North Korea with certainty.
He added that several incidents share “hallmarks” of North Korean hacking activity but lack enough evidence for formal attribution.
North Korea’s UK embassy declined to comment but has previously denied any involvement in cyber theft.
Elliptic and other firms, such as Chainalysis, track stolen digital currencies like Bitcoin and Ethereum by analysing public blockchain data.
Researchers say the hackers follow repeatable patterns, using similar tools and methods over time.
Elliptic estimates that with 2025’s record haul, the total value of cryptoassets stolen by North Korea now exceeds $6 billion.
The UN believes North Korea’s 2024 GDP stood at roughly $15.17 billion.
