North Korean hacker group, known as Lazarus Group, has stolen billions worth of cryptocurrency over the past few years. Their actions have significantly increased North Korea’s holdings in currency and supported its nuclear program.
Lazarus Group and its Operations
The state-supported Lazarus Group from North Korea has been actively conducting cyberattacks aimed at stealing cryptocurrency in recent years. According to Arkham Intelligence, as of March 17, 2025, the group holds around $1.14 billion in bitcoins. Following recent attacks on platforms like Bybit, North Korea has risen in the bitcoin holders ranking, following only the US, China, the UK, and Ukraine.
Cryptocurrency and North Korea’s Nuclear Program
According to the UN report, the stolen funds cover nearly half of North Korea's nuclear program costs. Sources say around 40% of mass destruction weapons development funds come from cybercrime. Successful cyberattacks help Pyongyang counter sanctions and economic isolation, using cryptocurrency to fund ballistic missile developments.
Future of Cyberattacks and Security Implications
Lazarus Group's attacks have revealed serious vulnerabilities in cryptocurrency security systems and related technologies. Experts, as Aditya Das from Brave New Coin states, "If possible, the actual criminals should be prosecuted, but if that's not feasible, prevention must be the focus." Implementing stricter control could help mitigate risks and improve security.
Lazarus hackers remain a significant threat to global cybersecurity. Their actions highlight the necessity for enhanced protective measures for financial technologies against criminal intentions, and require international cooperation to prevent future attacks.
