North Korea linked to majority of 2025 crypto hack losses

North Korea-linked hackers stole roughly 60 percent of all cryptocurrency losses from hacks worldwide in 2025, amounting to about $2.06 billion, according to blockchain security firm CertiK.

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Dramatic trading floor scene showing Bitcoin rebound to $67K amid breaking news of Ayatollah Khamenei's death in US-Israeli strikes on Iran.
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Bitcoin rebounds to $67,000 after US-Israeli strikes kill Iran's Khamenei

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Following an initial $128 billion crypto market plunge triggered by US and Israeli strikes on Iran, Bitcoin has rebounded toward $67,000 amid Iran's confirmation that the attacks killed Supreme Leader Ayatollah Ali Khamenei. Ethereum surged over 6% to near $2,000 as markets stabilized, despite oil supply fears and inflation concerns.

North Korean state-backed hackers have stolen more than $6 billion in cryptocurrency since 2017, accounting for 76% of all crypto hack losses in 2026. The groups, including Lazarus and DPRK, drained $577 million from DeFi platforms in April alone. TRM Labs highlighted a shift to sophisticated tactics, including in-person social engineering.

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South Korean prosecutors in Gwangju have successfully recovered 320 bitcoin, valued at $22 million, that were lost due to a phishing scam. The incident occurred during an audit when staff used a fraudulent online wallet checking tool. Officials have identified the operator of the phishing site and blocked related transactions.

Analysts at CryptoQuant report that the total cryptocurrency market capitalization has declined by more than $730 billion over the past 90 days. Bitcoin experienced the largest drop, with its market value falling by about $348 billion. This downturn reflects a significant capital outflow amid heightened market volatility.

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The Financial Action Task Force has issued a report highlighting stablecoins as the primary vehicle for illicit cryptocurrency transactions, accounting for the majority of suspicious volumes in recent years. The watchdog points to their use by actors in sanctioned countries like Iran and North Korea for sanctions evasion and money laundering. It calls for enhanced regulatory measures to address these risks.

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