The issue of cryptocurrency hacking allegedly conducted by North Korea is reported to be a major topic at the upcoming G7 Summit scheduled for June 15–17, 2025, in Kananaskis, Alberta, Canada.

According to a Bloomberg report released Wednesday (May 7, 2025), North Korea’s crypto-related cyberattacks are now regarded as a transnational threat that demands a more coordinated international response.

The summit will be led by Canadian Prime Minister Mark Carney and attended by the heads of state from the world's seven largest economies: the United States, Canada, Japan, the United Kingdom, France, Germany, and Italy.

These discussions will take place amidst escalating geopolitical and trade tensions between the U.S. and some other G7 member nations. Other pressing matters expected to dominate the summit include the ongoing conflicts in Ukraine and Gaza.

Cryptocurrency Funds Used for Weapons of Mass Destruction

Various investigations have revealed that North Korea consistently uses funds acquired from crypto hacking to finance its nuclear weapons program and military activities. A key perpetrator frequently mentioned is the Lazarus Group, a hacker collective known to have direct ties to the North Korean government. According to data from Chainalysis, in 2024 alone, Lazarus was responsible for stealing over US$1.3 billion through 47 separate hacking incidents.

One of the largest attacks this year was the February 2025 hack of crypto exchange Bybit, which resulted in losses totaling US$1.46 billion—making it the most significant hacking incident in the history of the crypto industry. Additionally, the thefts involving Axie Infinity (US$622 million) and the Indian exchange WazirX (US$230 million) have also been linked to Lazarus.

A report from the U.S. Department of the Treasury stated that the illicit funds from these attacks are used by North Korea to circumvent international sanctions and accelerate the development of weapons of mass destruction.

Moreover, North Korea is reportedly infiltrating global crypto companies by placing IT personnel as insider threats, disguising them as freelancers to gain access to internal company systems.

Overall, North Korea’s cyber operations have become significantly more advanced. Most recently, groups affiliated with Lazarus are said to have created three fake companies—two of which are based in the United States—to distribute malware and deceive crypto developers around the world.