North Korea Gets Half Its Foreign Currency from Cryptocurrency Theft... Hacking "Industrialized"

60% of Last Year's Global Crypto Theft

An analysis suggests that hacking has effectively become a state-run industry in North Korea, as the country has expanded cryptocurrency theft into a major source of foreign currency. The recent hack of Binance, the world's largest cryptocurrency exchange, has again drawn attention to North Korea's systematic theft of virtual assets.

According to foreign media reports and blockchain analytics firms on October 31, North Korea-linked hacking groups have in recent years focused their attacks on cryptocurrency exchanges and related companies, stealing large amounts of virtual assets.

A past report by the UN Security Council Panel of Experts estimated that proceeds from cybercrime account for about half of North Korea's total foreign currency earnings. Analysts say North Korea uses cryptocurrency hacking as a key means of circumventing international sanctions and securing funds needed for nuclear and missile development.

The scale of North Korea's cryptocurrency theft has also continued to grow. Blockchain analytics firm Chainalysis estimated that North Korea-linked hackers stole about $2 billion worth of cryptocurrency in 2025, accounting for approximately 60% of the total amount stolen worldwide.

The recent hack of Binance has also been attributed to a North Korea-linked group. Blockchain analytics firm TRM Labs assessed that a North Korean state-sponsored hacking group was likely involved in the large-scale cryptocurrency theft from Binance.

North Korea is known to have systematically trained hacking personnel and dispatched them overseas, while securing funds by laundering stolen cryptocurrency multiple times before converting it to cash.

The international community is strengthening efforts to trace virtual asset transactions and impose sanctions to prevent proceeds from North Korea's cybercrime from funding weapons development, including nuclear and missile programs.

This content was produced with the assistance of AI translation services.