Rich Crypto Holders Targeted by North Korean Hackers Lose Over ₹1.49 Lakh Crore in Digital Heist
“A latest digital heist case came upfront involving many wealthy crypto holders losing over ₹1.49 Lakh Crore while being targeted by North Korean hackers.”
The cryptocurrency exchange ByBit’s computers were discreetly but catastrophically compromised on a February morning in 2025. Digital assets valued at almost ₹1.05 lakh crore disappeared in a matter of minutes. This was the biggest cyberattack ever connected to North Korean hackers, so it wasn’t just any cybercrime.
Researchers
| This year, North Korean hackers have stolen more than ₹1.49 lakh crore from wealthy cryptocurrency investors. This sum is approximately 13% of North Korea’s projected Gross Domestic Product (GDP), according to UN estimates. |
Major cryptocurrency exchanges and digital tokens have been the constant targets of hacker collectives like Lazarus in recent years. A new trend in 2025, however, has been noted by experts from companies like as Elliptic and Chainalysis: high-net-worth individual investors, who frequently lack professional-level security measures, have become greater targets.
Dr. Tom Robinson, Chief Scientist, Elliptic
| “The true amount stolen may be far larger than official estimates indicate because attacks on people are underreported. While complete verification is still lacking, numerous events demonstrate close ties to North Korea.” |
The stolen money is probably being used to fuel North Korea’s nuclear and missile projects, according to warnings from Western security services. When asked for a response, the North Korean embassy in the UK did not reply.
Monitoring on the Blockchain
Businesses such as Elliptic and Chainalysis use public blockchain transaction data to track down stolen assets. This technology aids in identifying the tools, tactics, and patterns used by hackers. According to researchers, North Korean hacking operations frequently use new technologies, which makes identification more difficult.
According to Elliptic, the total amount of known stolen cryptocurrency assets has increased to over ₹4.47 lakh crore as a result of North Korea’s cyber operations in 2025.
In contrast, the UN projected that North Korea’s GDP would reach $15.17 billion (about ₹1.13 lakh crore) in 2024.
Significant Events in 2025
- February: ₹1.05 lakh crore stolen from ByBit
- July: ₹1.05 crore stolen from nine users on WOO X
- Seedify: ₹90 crore digital assets stolen
- Individual investors: The largest single theft amounted to ₹7.5 crore
According to analysts, 2025 has already eclipsed the record set in 2022, when North Korea was said to have stolen ₹99.75 crore.
False IT Initiatives and Global Sanctions
To get around international sanctions and collect more money, North Korea has also been accused of operating phony IT worker schemes. This tactic is a digital solution to the nation’s economic problems.
Professor Triveni Singh, Former IPS Officer, Cybercrime Expert
| “North Korean hackers employ well-planned, long-term tactics in their operations. Rich investors are easier targets because they frequently take fewer precautions. Because the stolen money is being used directly to support missile and weaponry projects, this is more than just financial theft; it also presents a threat to national security.”
“Technical measures alone are no longer sufficient for ensuring crypto security. Regular financial management, password protection, and personal digital habits are equally important. An important factor in this new kind of cyberthreat is investor knowledge.” |
Analysts’ Caution
Experts in cybersecurity warn that North Korea’s new targeting approach poses a significant threat to international cybersecurity. Improving safeguards for wealthy investors is now not only recommended but also required.
Dr. Robinson
| “Technical safeguards alone are no longer sufficient for cryptocurrency investors.” “Their personal security awareness and financial behavior are equally important.” |
Read More:
WordPress website: Hackers Covertly Insert Malicious PHP Codes to Weaponize Sites
About Author
English