North Korea Made Up to $22 Billion From Crypto Theft, Trade and Arms Sales: Report

Highlights:

• North Korea earned up to $22 billion from cybercrime, trade, arms sales, and other foreign income. 
• Crypto theft became a major source of money as hackers targeted exchanges, wallets, and blockchain companies.  
• A recent report found North Korean hackers affected 1,640 companies across 57 countries.

North Korea earned as much as $22 billion in foreign revenue between 2022 and 2025. The money came from several sources, including cybercrime, trade, and arms sales, according to an August 7 Bloomberg report.

The report shows that North Korea has continued to earn large amounts of foreign money despite international sanctions. These sanctions were designed to limit funding for the country’s nuclear and missile programs. However, North Korea has found other ways to bring money into the country.

Kim Jong Un has more cash at his disposal than at any point during his 15 years in power, based on research by my Bloomberg Economics geoeconomics colleague Adam Farrar, in collaboration with @business.

North Korea raked in as much as $22 billion in foreign revenue from 2022 to… pic.twitter.com/TL4opo8hYO

— Jennifer Doshi Welch (@geoeconjennie) August 7, 2026

North Korea Crypto Theft Adds Billions in Revenue

Crypto theft has become an important source of foreign money for North Korea. Hackers linked to the country have targeted crypto exchanges, blockchain platforms, and digital wallets. A separate Bloomberg report in March said U.S. intelligence officials estimate that North Korea earns at least $1 billion each year from illegal cyber operations.

Crypto theft increased sharply last year. Bloomberg reported in December that North Korean hackers stole about $2 billion in cryptocurrency during the year, based on Chainalysis data. One of the biggest attacks involved crypto exchange Bybit. Hackers stole about $1.5 billion from the platform in February of the previous year.

According to Chainalysis, North Korea had managed to steal at least $6.75 billion worth of cryptocurrencies from its first day of monitoring. It is common for North Korean hackers to transfer their stolen money through multiple wallets in various blockchain networks.

Arms Sales and Trade Also Support North Korea

Crypto crime is only one source of North Korea’s foreign revenue. The country has also increased its economic and military ties with Russia. Arms sales have become another important source of foreign currency. Bloomberg reported in March that cybercrime and weapons sales to Russia helped increase North Korea’s foreign-currency earnings. The report said revenue reached its highest level since stronger sanctions were introduced in 2018.

North Korea also continues to earn money through trade and other international activities. These revenue sources help the government gain access to foreign currencies. That money can support government spending and military programs.

North Korean Crypto Hacks Remain a Security Risk

North Korea’s growing cyber activity has become a major concern for the crypto industry. Crypto exchanges and blockchain companies are now under greater pressure to improve security. They must protect wallets, strengthen employee checks, and watch suspicious transactions more closely.

Recent findings also show how wide North Korea’s hacking operations have become. According to an August 5 WIRED report, cybersecurity researcher Vangelis Stykas found evidence that North Korean hacking operations affected 1,640 companies across 57 countries. He said around 700 to 800 organizations suffered serious intrusions.

据彭博社援引 TRM Labs 数据，朝鲜相关黑客目前占全球加密货币盗窃的 70% 以上，较 2017 年约 30% 大幅上升。彭博经济研究估算，2022 年至 2025 年朝鲜通过军火销售、海外劳工、网络犯罪及其他渠道获得的境外收入最高约 220 亿美元，接近此前四年约 80 亿美元的 4 倍。https://t.co/nIRAVcCp1V

— 吴说区块链 (@wublockchain12) August 7, 2026

The hackers often targeted software developers through fake job offers. After gaining access, they showed a strong interest in cryptocurrency wallets and blockchain systems. The findings add to concerns about North Korea’s growing use of cybercrime to generate foreign revenue.