North Korea has been accused of stealing £17 million in Bitcoin from the cryptocurrency exchange Lykke, leading to its operational halt and liquidation.
Bitcoin Theft from Lykke
The cryptocurrency exchange Lykke, registered in the UK, fell victim to a significant cyber attack resulting in the theft of £17 million in Bitcoin. The UK's Office of Financial Sanctions Implementation attributed this incident to 'malicious Democratic People’s Republic of Korea cyberactors.'
The Lazarus Group
The Lazarus Group, known for its involvement in numerous major cryptocurrency attacks globally, is believed to be behind this theft. If confirmed, this would mark the biggest cryptocurrency theft from any British target so far. The Israeli crypto research firm Whitestream confirmed tracking the stolen funds, which were laundered through platforms known to ignore money-laundering rules.
Lykke's Liquidation in Court
In March 2025, a UK court ordered the liquidation of Lykke after over 70 users initiated legal actions to recover their funds, claiming they lost £5.7 million when the platform ceased operations. Asset distribution was managed by Interpath Advisory, while the Swiss parent company also entered liquidation.
The Lykke case highlights how North Korea employs cyberattacks to financially support its military programs, leaving affected investors without their funds.
