North Korea's Cryptocurrency Heists Exceed $2 Billion in 2025 Amid Decrease in Attacks

Chainalysis has reported a substantial increase in global cryptocurrency theft, with over $3.4 billion taken between January and early December of 2025. This makes it one of the worst years for crypto-related crimes to date. Notably, the Bybit hack was responsible for approximately $1.5 billion, revealing the dire implications of major security breaches.

A Shift in Crypto Crime

The report indicates significant changes in the trends of cryptocurrency theft. Compromises of personal wallets have increased markedly, rising from 7.3% of total stolen value in 2022 to 44% in 2024.

In 2025, without the large losses caused by the Bybit incident, the distribution of stolen funds would have looked quite different. Centralized platforms accounted for 88% of the total stolen value early in the year, indicating ongoing issues related to private key security despite fewer hacking incidents.

Crypto Hack Volume. Source: Chainalysis

The analysis revealed a widening gap between typical crypto thefts and the largest attacks, with the ratio of the biggest heist to the median breach exceeding 1,000 times. The top three hacks alone accounted for 69% of all service-related losses.

North Korea as a Key Player

In 2025, North Korea emerged as the primary nation-state cyber threat, with hackers linked to the nation stealing at least $2.02 billion in cryptocurrency, marking a 51% increase from 2024. This accounted for an unprecedented 76% of all service compromises. Despite a decrease in the number of confirmed hacks attributed to North Korea, their total cryptocurrency theft is estimated to be $6.75 billion.

The report also sheds light on the laundering practices of North Korean hackers, who transfer stolen assets using smaller transactions and frequently utilize services that cater to Chinese markets.

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This shift toward more strategic, geopolitical-driven theft emphasizes the evolving landscape of cyber threats in the cryptocurrency sphere.