North Korea Accused of Major Crypto Heist

North Korea has been accused of orchestrating one of the largest cryptocurrency heists in recent history, allegedly siphoning off hundreds of millions of dollars in digital assets through a sophisticated cyberattack campaign, according to a new report by international cybersecurity firms and government agencies.

The heist, believed to be carried out by the notorious Lazarus Group — a hacking collective linked to the North Korean regime — targeted a major blockchain platform earlier this year. Blockchain analytics firm Chainalysis estimates that over $600 million in crypto assets were stolen in the attack, which has sent shockwaves across the global financial and cybersecurity communities.

U.S. federal officials and the United Nations have long accused North Korea of using cybercrime to fund its weapons programs and bypass international sanctions. This latest theft adds to growing evidence that Pyongyang is relying more heavily on illicit cyber activities as its economy continues to suffer under heavy restrictions and internal mismanagement.

“This wasn’t a smash-and-grab job,” said a cybersecurity analyst at Mandiant. “It was a calculated, multi-layered intrusion involving social engineering, malicious code, and insider knowledge of blockchain systems.”

The stolen funds were reportedly laundered through various decentralized exchanges and privacy wallets, making recovery difficult and obscuring the digital trail. Experts warn that portions of the stolen crypto have likely been converted into hard currency or used to support North Korea’s sanctioned missile programs.

In a statement released Monday, the U.S. Treasury Department imposed additional sanctions on individuals and entities believed to be involved in the operation. “We will continue to expose and disrupt North Korea’s criminal cyber networks,” the statement read.

South Korea's National Intelligence Service has also launched a joint investigation with international partners. “This incident highlights the ongoing threat posed by North Korean cyber actors who are weaponizing digital finance,” an official said.

North Korea has consistently denied involvement in cybercrimes, dismissing past allegations as political propaganda. However, multiple independent investigations have linked Pyongyang to past attacks on financial institutions, including the 2016 Bangladesh Bank heist and the 2017 WannaCry ransomware outbreak.

As digital currencies continue to grow in popularity, experts warn that North Korea’s cyber capabilities will pose a long-term security challenge. “The regime has weaponized code,” said a former intelligence official. “And they’re getting better at it.”