Hackers linked to the North Korean government have stolen more than $2 billion worth of cryptocurrency so far this year, marking the largest annual total on record, according to TechCrunch citing blockchain analytics firm Elliptic on October 7.
Elliptic’s latest report identifies over 30 separate cyberattacks in 2025, targeting crypto exchanges and individual investors.
The company noted that “the majority of the hacks in 2025 have been perpetrated through social engineering attacks,” where victims are deceived or manipulated into granting access to their digital assets.
In its statement, Elliptic emphasized that North Korea’s hacking activity represents “the largest annual total on record, with three months still to go.” The firm added, “The actual figure may be even higher. Attributing cyber thefts to North Korea is not an exact science.”
The company said the regime’s hackers are increasingly shifting from exploiting software vulnerabilities to targeting people directly. “This shift highlights that the weak point in cryptocurrency security is increasingly human, rather than technical,” Elliptic wrote.
According to Elliptic, North Korea’s operations in 2025 have primarily focused on cryptocurrency exchanges but now also include attacks on “high-net-worth individuals” who hold substantial digital assets.
The new estimate surpasses the previous record set in 2022, when North Korea stole $1.35 billion. Since 2017, the regime has reportedly amassed at least $6 billion through cryptocurrency thefts.
Elliptic also noted that many additional thefts likely remain unreported. “We are aware of many other thefts that share some of the hallmarks of North Korea-linked activity but lack sufficient evidence to be definitively attributed,” the report stated.
Earlier, North Korean leader Kim Jong Un unveiled a new defense strategy centered on expanding both nuclear and conventional military capabilities, signaling a major policy shift ahead of the ninth Party Congress, according to state media.
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