Insiders Suggest G7 Leaders May Address North Korean Cryptocurrency Hacking Issues at Summit

According to a report by Bloomberg citing informed sources, leaders of the Group of Seven (G7) may discuss North Korea’s malicious cyber activities and cryptocurrency hacking actions at the summit to be held in Canada next month, reflecting global concerns about Pyongyang’s increasingly aggressive cyber theft.

Informed sources revealed that North Korea’s malicious cyber activities are alarming, as the funds stolen have become a crucial source of financing for the regime and its various projects. However, these individuals stated that the agenda for the summit is expected to focus primarily on the wars in Ukraine and the Middle East, as well as the trade deadlock between the United States and most other G7 countries, with the agenda related to North Korean hackers still being uncertain.

Since the 2014 hack of Sony Pictures drew attention, North Korea has established a powerful hacking force skilled in deploying malicious software to infect computers and extort victims, often demanding ransom payments in cryptocurrency. These groups have also directly stolen billions of dollars’ worth of digital assets from cryptocurrency companies, such as the hack of Bybit exchange, which involved a total of $1.43 billion in Ethereum (ETH) and is believed to be the work of North Korean hackers.

Additionally, the U.S. Department of Justice noted in a January announcement that North Korea has sent thousands of IT workers overseas, primarily to China and Russia, in an effort to deceive U.S. and other global companies into hiring them as freelance employees, thereby generating revenue for the North Korean regime. Reuters has also reported that North Korean hackers have established companies in the U.S., using fake identities to offer job interviews and subsequently deploying sophisticated malware to attack developers’ cryptocurrency wallets.

Law enforcement agencies have stated that North Korea utilizes these illegal funds to evade international sanctions and finance its operations, including its programs for developing weapons of mass destruction.

Related reports: “The Stolen Coins Are the Most Delicious! North Korea’s New ‘227 Research Center’ Uses AI to Enhance Hacking Techniques”
“The DeFi Edge Tells the Story: How Poor and Isolated North Korea Built a Lean Hacking Force”