G7 to Address North Korea’s $1.5 Billion Crypto Theft at Summit – Coincu

North Korean hackers have been accused of stealing over $2.8 billion in digital assets between 2023 and 2025, with a major $1.5 billion theft targeting Bybit in February 2025. The G7 summit in Canada this June will address the issue. “The G7 summit will be a pivotal moment for global cybersecurity cooperation, particularly in addressing the ongoing threat posed by North Korean cyber activities,” stated Mark Carney, the Prime Minister of Canada.

The hacking operations help North Korea finance weapons of mass destruction, heightening the urgency for an international response against these cyber threats.

G7 Summit Tackles $2.8 Billion North Korean Crypto Heists

The G7 summit in Canada will address the increasing cyber threats from North Korea. Since 2023, 47 cyberattacks have reportedly been launched by North Korean hackers, targeting digital asset exchanges. February 2025 marked a significant strike with a reported $1.5 billion theft from Bybit. Canadian Prime Minister Mark Carney emphasizes global involvement, highlighting the incident’s international impact.

Hacking operations have intensified, and the funds are used to circumvent sanctions and fund weapons programs. The Lazarus Group, a notorious state-sponsored entity, is identified as the major actor behind these activities. G7 leaders are focusing on devising strategies to curb these cybercrimes, signaling potential diplomatic and cybersecurity repercussions.

In response to the growing threats, experts emphasize the need for coordinated global cybersecurity measures. Increased intelligence sharing and sanctions are expected to be key topics at the summit. The global financial market’s stability is at stake, and industry leaders express a unified stance towards combating these issues.

Expert Analysis on Regulatory and Defensive Strategies

Did you know? North Korea’s cyber operations gained notoriety with the 2014 Sony hack, showcasing their early capacity for large-scale disruption and foreshadowing the current crypto-related thefts.

According to CoinMarketCap, Bitcoin’s trading stands at $98,834.29, with a market capitalization of $1.96 trillion. A 24-hour change showed a 2.63% increase, while the past 30 days revealed a significant 23.80% rise. The cryptocurrency’s circulating supply is 19,861,678, underscoring its dominance.

The Coincu research team predicts increased regulatory scrutiny and initiatives fostering international cybersecurity partnerships. Historical attack patterns by North Korea highlight the need for technology-driven defensive strategies. Broad-based legislative measures are anticipated alongside potential technological innovations to thwart future threats.