North Korean Hackers Blamed for Record Spike in Crypto Thefts in 2025

According to a new report from crypto analysis firm Chainalysis, hackers have stolen more than $2 billion in cryptocurrency during the first half of 2025, marking the worst year-to-date on record for crypto thefts. This staggering figure has already surpassed the amount of crypto lost last year and represents a significant increase compared to the same period in 2022.

The blockchain analysis company revealed that the $2.17 billion stolen during the first half of 2025 is not only a record-breaking amount but also a disturbing trend. The report shows that the amount of cryptocurrency stolen during the first six months of 2025 was about 17% higher than the same period in 2022, which was previously the worst year on record for stolen crypto.

The Bybit Hack: A Major Contributing Factor

A single breach at crypto exchange Bybit has been identified as a major contributing factor to this record spike in crypto thefts. North Korean hackers are believed to have stolen more than $1.4 billion in crypto from the platform, with much of it subsequently laundered and funneled into the North Korean regime, per the FBI.

Chainalysis said that the Bybit hack falls within a broader pattern of North Korean hacks, which have “become increasingly central to the regime’s sanctions evasion strategies.” This is a concerning trend, as North Korea has become a formidable threat in recent years by targeting Western companies to steal cryptocurrency with the aim of funding its sanctioned nuclear weapons program.

The Role of Remote IT Workers

North Korea has also relied on thousands of remote IT workers to infiltrate tech companies and steal intellectual property. These workers are often paid a wage and then extort companies into paying so as not to publish their sensitive files.

This strategy highlights the sophistication and adaptability of North Korean hackers, who have become increasingly effective in targeting Western companies and evading detection.

Consequences and Implications

The consequences of this record spike in crypto thefts are far-reaching and concerning. The amount of cryptocurrency stolen during the first six months of 2025 has significant implications for the global economy, financial markets, and individual investors.

The report also raises serious questions about the effectiveness of current security measures and the need for improved cybersecurity protocols to prevent such hacks in the future.

Conclusion

In conclusion, the record spike in crypto thefts in 2025 is a disturbing trend that highlights the growing threat posed by North Korean hackers. The Bybit hack and the broader pattern of North Korean hacks demonstrate the sophistication and adaptability of these hackers, who are becoming increasingly effective in targeting Western companies and evading detection.