North Korea’s cryptocurrency hacks, which have allegedly contributed to the funding of its weapons programs over time, are anticipated to be addressed by G7 leaders.
The ongoing crypto hacks and malicious cyber activities attributed to North Korea over the years are reportedly set to be discussed by leaders from the Group of Seven nations, with a focus on how such threats could be effectively addressed and mitigated.
According to an initial Bloomberg report citing sources familiar with the summit’s agenda, discussions are expected to focus on escalating geopolitical tensions and trade frictions involving the United States and other G7 member nations.
North Korea’s activities have been described as concerning, with investigations uncovering that stolen funds—primarily originating from the cryptocurrency sector—have been utilized to finance its weapons of mass destruction programs.
The summit, scheduled to take place from June 15 to 17 in Kananaskis, Alberta, will be hosted by Canadian Prime Minister Mark Carney and attended by leaders representing the seven most advanced global economies.
The G7 member nations are composed of France, Germany, Italy, Japan, the United Kingdom, the United States, and Canada, which is serving as this year’s host.
Inside the Crypto Hacking Playbook
In recent years, a highly organized cyber operation has been developed by the Democratic People’s Republic of Korea (DPRK), often utilizing advanced techniques to target and expropriate digital assets from susceptible protocols.
Its cyber offensives have become widely known for utilizing progressively sophisticated strategies, leading to significant losses—such as the $622 million breach involving Axie Infinity and the $230 million theft from WazirX.
The discussions are taking place as North Korea’s growing alignment with Russia has been observed in recent years, including the provision of military assistance to the former Soviet state amid its ongoing conflict in Ukraine.
According to Luis Lubeck, project manager at the crypto cybersecurity firm Hacken, the strengthening of those ties has been said to intensify threats “through the sharing of tools and expertise,” thereby making attribution and response measures more challenging, as noted in a statement to Decrypt in December of last year.
In addition to the widely recognized Lazarus Group, other threat actors have been identified as operating covertly, according to an analysis of North Korea’s operational framework conducted by blockchain security specialist Samczsun of the research-focused crypto investment firm Paradigm.
In February, a $1.4 billion breach—the largest hack in the crypto industry—was experienced by the exchange Bybit, with responsibility attributed to North Korea’s Lazarus Group by cybersecurity firms and later confirmed by federal authorities.
