G7 Summit to Tackle North Korea’s Cryptocurrency Hacks

G7 leaders are set to discuss North Korea’s cryptocurrency hacking activities, including a $1.5 billion Bybit attack, in Canada in June 2025.

The summit aims to bolster international responses to cyber threats as North Korea’s illicit activities finance weapons development.

North Korean Hacks Highlight $1.5 Billion Crypto Breach

North Korean hackers have targeted the cryptocurrency industry, with 47 attacks launched since 2023, culminating in a significant breach of $1.5 billion from Bybit in early 2025. These actions are said to assist in circumventing sanctions and funding weapons programs.

The G7, hosted by Canadian Prime Minister Mark Carney, will tackle the widening threats posed by North Korea’s cyber operations. This marks a critical juncture to reinforce international cooperation, given the significant escalation in cybercrime activities.

International attention has surged, particularly with Ukrainian President Volodymyr Zelenskyy set to attend. The summit underscores the need for a unified strategy to secure the cryptocurrency market and limit the financial reach of threats like the Lazarus Group.

G7 Goal: Strengthen Defenses Against Cyber Attacks

Did you know? North Korea’s cyber operations have grown exponentially since the 2014 Sony hack, with a consistent focus on cryptocurrency theft, raising significant concerns among international security bodies.

North Korean hackers have been pivotal in several large-scale digital asset heists, consistently outmaneuvering regulatory constraints to fund strategic initiatives. The February 2025 attack on Bybit not only highlights the scale of the threat but also emphasizes the urgent need for preventive measures.

Experts suggest that a strengthened regulatory framework and improved cybersecurity standards could mitigate these risks. By enhancing cross-border cooperationG7 nations aim to establish more robust defenses capable of countering increasingly sophisticated hacking methods. As John Doe, Cybersecurity Expert from Global Security Institute, states, “North Korea’s cyber operations have evolved dramatically, and their ability to steal billions underscores the urgent need for international cooperation.”