Catenaa, Saturday, June 14, 2025-Leaders of the Group of Seven (G7) are set to address North Korea’s use of cryptocurrency hacks to fund weapons programs during their summit June 15-17, according to a report published by Bloomberg.
The talks will focus on Pyongyang’s growing cyber sophistication, including major crypto breaches like Axie Infinity and Bybit, and the regime’s deepening ties with Russia amid ongoing geopolitical tensions.
North Korea’s cyber units have stolen billions in digital assets through complex attacks. The stolen funds reportedly support the development of weapons of mass destruction, raising alarm among G7 officials. The summit hosted by Canadian Prime Minister Mark Carney will bring together leaders from Canada, France, Germany, Italy, Japan, the UK, and the US
In a related incident, crypto exchange Kraken uncovered a suspected North Korean operative during a job interview and continued the process to gather intelligence on infiltration tactics. The Democratic People’s Republic of Korea (DPRK) has a well-established cyber operation noted for high-profile thefts, including Axie Infinity’s $622 million loss and WazirX’s $230 million hack.
Bybit CEO Ben Zhou revealed that 68.57% of funds stolen in the $1.4 billion Lazarus Group hack remain traceable despite sophisticated laundering efforts. Experts warn that North Korea’s collaboration with Russia amplifies cyber threats, sharing tools and expertise that complicate countermeasures.
The G7 discussions are expected to seek ways to curb these illicit crypto activities and bolster international cybersecurity cooperation.
