G7 Leaders Consider Discussing North Korea’s Crypto Hacks at June Summit: Bloomberg

Highlights:

• G7 leaders will discuss North Korea’s cyberattacks and crypto thefts next month.
• North Korean hackers steal billions and use the money for nuclear programs.
• North Korea’s IT workers help fund cyberattacks and weapons development worldwide.

Leaders of the Group of Seven (G7) are likely to talk about North Korea’s growing cyberattacks and cryptocurrency thefts at their summit in Alberta, Canada next month, Bloomberg reported on May 7, citing people familiar with the plans. This move follows global concern over North Korea using cybercrime to fund weapons development. Discussions will mainly focus on the Ukraine and Gaza wars.

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Sources say the leaders plan to talk about how to work together against North Korea’s growing cyber threat. This could include improving global cybersecurity rules, blocking North Korea’s digital assets, and punishing crypto platforms that help move stolen money more strictly. The G7 wants to show that the world will no longer tolerate this kind of cyber attack. As the host, Canada will look for stronger partnerships and better sharing of information to fight cyber crimes.

G-7 leaders may discuss North Korea’s malicious cyber activities and crypto hacks at a summit in Canada next month, reflecting mounting global concerns over Pyongyang’s growing online thefts https://t.co/ENFbPuYvcd

— Bloomberg (@business) May 7, 2025

North Korea Targets Billions in Crypto Hacks to Fund Nuclear and Missile Programs

North Korea is getting attention again, not because of missile tests, but because of secret cyberattacks that have stolen billions of dollars. Many of these attacks are believed to be done by North Korean hackers, especially a group called Lazarus. In February 2025, hackers linked to North Korea stole about $1.5 billion from Bybit, a big crypto exchange in Dubai.

The FBI said the hackers were part of the well-known Lazarus Group, the same group believed to be behind the 2014 SONY cyberattack. The group quickly changed the stolen money into Bitcoin and spread it across thousands of blockchain wallets to hide where it came from.

This wasn’t a one-time thing. Hackers linked to North Korea carried out 47 major attacks last year, stealing $1.34 billion in cryptocurrency. That’s more than double the $661 million they stole in 2023, according to data from blockchain firm Chainalysis. In January, South Korea, Japan, and the U.S. warned that North Korea sent tech workers to infiltrate crypto companies. These workers pose an insider threat to private companies. A U.S. Treasury report in September stated that the money stolen in these hacks helps North Korea avoid sanctions and fund its weapons programs.

North Korea Uses Global IT Workforce as a Hidden Cyber Weapon

North Korea’s cyber efforts go beyond hacking. The country has created a global IT workforce as another hidden weapon. Thousands of skilled North Koreans are working remotely from China and Russia as fake freelance software developers, earning high salaries that support the North Korean government. Earlier this year, Kraken found a North Korean agent who used fake identities and resumes to apply for a software engineering job and infiltrate tech companies worldwide. 

The U.S. Department of Justice said these IT workers hide their identities using fake emails, websites, proxy servers, and innocent people in the U.S. and elsewhere. DOJ revealed that these workers can earn up to $300,000 a year. With thousands of them, this becomes a major income source for North Korea, which goes to its Ministry of Defense and weapons programs.

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