G7 summit could discuss North Korea’s crypto hacks: Report

Quick Summary:

The people said North Korea’s nefarious cyber operations are alarming, as the stolen crypto has become a key funding source for the regime and its programs. North Korean-affiliated hacking groups such as the Lazarus Group have already stolen billions of dollars worth of crypto this year, including pulling off the $1.4 billion hack on Bybit in February, the largest ever for the crypto industry.

Related: North Korean crypto attacks rising in sophistication, actors — ParadigmIn April, a group affiliated with Lazarus set up three shell companies, with two in the US, to deliver malware to unsuspecting users and scam crypto developers. Attempt to infiltrate crypto exchange Earlier this month, crypto exchange Kraken detailed how it foiled an attempt by a North Korean hacker to infiltrate its organization.

Conflicts in Ukraine and Gaza will dominate discussions, but North Korea’s increasing cyber threats and crypto hacks have become a major concern requiring a coordinated international response, Bloomberg reported on May 7, citing people familiar with the plans.

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Article Details

Author / Journalist: Cointelegraph by Martin Young

Category: Crypto

Markets: United StatesCanadaJapanNorth KoreaSouth KoreaUkraine

Topics: Blockchain North Month Cyber Hacks Korea Bloomberg Korea’s Group Korean Crypto

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-08 @ 06:58:18 (15 hours ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 393 words

Reading Time: 3 minutes read

Sentences: 16 lines

Sentence Length: 25 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coin Telegraph

News ID: 28488383

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About Coin Telegraph

Main Topics: Crypto

Official Website: cointelegraph.com

Update Frequency: 37 posts per day

Year Established: 2013

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News Last Updated: 7 hours ago

Coverage Areas: United States

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Publisher ID: #11

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