Home » Crypto News Share: Share: North Korea-linked actors have been frequently connected to large-scale crypto hacks, thefts, and laundering operations in recent years. But the isolated nation’s foreign ministry denies involvement in global cyber fraud. In an official statement, a spokesperson from the regime’s Foreign Ministry called the accusations unfounded and politically motivated by the United States and its institutions.
They described “reptile media organs” and “plot-breeding organizations” as spreading incorrect information about the DPRK to the international community. According to the report by state news agency KCNA, these claims falsely link the DPRK to cyber-related frauds occurring globally while portraying the US, which it said boasts the world’s most advanced cyber capabilities, as the biggest victim. The spokesperson called this position unreasonable while arguing that the US itself conducts indiscriminate cyber attacks against other countries using its control over global IT infrastructure.
The statement further described the narrative around a DPRK “cyber threat” as part of a broader continuation of “hostile policy” by successive US administrations, to damage the country’s image through false information for political purposes. ” The spokesperson also warned that the DPRK would not tolerate what it called increasingly confrontational actions by hostile forces across various domains, including cyberspace, and would take necessary measures to defend state interests and safeguard the rights of its citizens. Recent findings by TRM Labs show that groups linked to North Korea were responsible for 76% of all crypto hack losses in 2026 through April, mainly due to two attacks worth $577 million.
This share has risen steadily from under 10% in 2020-2021 to 64% in 2025, which was largely driven by the Bybit breach, still the biggest crypto hack on record. This year, incidents involving KelpDAO and Drift have made up a large portion of losses. - Ripple (XRP) Makes Important Security Announcement Regarding North Korea - KelpDAO and Drift Lead Devastating $650M Crypto Hack Wave of April - Old Ethereum Wallets Drained in Coordinated Attack, Losses Pass $800K The blockchain intelligence firm found that the number of attacks has not increased, but their impact has.
Just two incidents account for most of the losses so far, which shows a focus on fewer, but high-value targets. TRM experts also suggested the possible use of AI tools in planning and social engineering.
