The G7 just made North Korea hacking operation a formal geopolitical priority. Leaders from the world’s seven largest advanced economies issued a joint communiqué at the Evian summit just yesterday, explicitly calling out Pyongyang’s cryptocurrency theft machine.
They accused the North Korean of draining more than $6.75 billion from the crypto ecosystem since 2017. The statement frames DPRK cyber operations not as a crypto security problem but as a weapons-financing mechanism.
G7 CALLS FOR COORDINATED ACTION AGAINST NORTH KOREA'S CRYPTO THEFTS
G7 leaders agreed to jointly tackle North Korea's crypto thefts and cybercrimes at the Évian summit.
The move comes after North Korea-linked Lazarus Group was blamed for the $1.5B Bybit hack, alongside $1.34… pic.twitter.com/CIU3hvDi0l
— Coin Bureau (@coinbureau) June 18, 2026
The central tension the G7 statement forces into the open: coordinating international enforcement against state-sponsored theft is straightforward to declare and extraordinarily difficult to execute, and the Evian communiqué is long on intent, short on mechanics.
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The Seven Nation Army
North Korean hackers stole $2.02 billion in crypto during 2025 alone, a 51% jump from 2024’s already alarming $1.34 billion across 47 incidents. The single largest event in that run was the Bybit hack in February 2025, in which $1.5 billion was extracted from the exchange in what remains the largest single crypto theft on record.
North Korea stole $1.5 BILLION from Bybit in under 2 minutes
And the CEO was the last person to sign off on it
Here's the full story nobody has told properly
North Korean hackers spent months watching Bybit's routine cold-to-warm wallet transfers
They didn't touch the… pic.twitter.com/q3kyDUzqkY
— xlr8 (@xlr8files) June 16, 2026
The FBI attributed the Bybit breach to a North Korean hacking outfit called TraderTraitor, issuing an IC3 advisory (psa250226) that noted stolen assets are rapidly converted into Bitcoin and other crypto before laundering begins. The laundering itself was designed for speed: the goal is to move value out of traceable on-chain positions before blockchain analytics firms can flag the wallets.
The pace has not slowed in 2026. According to TRM Labs, just two DPRK-linked attacks, targeting Drift Protocol (a Solana-based perpetuals exchange) and KelpDAO (a liquid restaking protocol built on Ethereum), resulted in $577 million in losses through April 2026. That single figure represents 76% of all reported global crypto hack losses so far this year.
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G7 vs. North Korea Hacks
The Evian statement rests on three pillars: enhanced policy coordination among G7 member nations, stronger enforcement of existing sanctions frameworks, and disruption of the laundering networks that convert stolen crypto into usable funds.
“We reiterate the need to jointly address North Korea’s cryptocurrency thefts and cybercrimes,” the G7 leaders stated.
Japan was the internal driver that got this language onto the agenda. Finance Minister Katayama Satsuki publicly called for G7 partners to strengthen their response to North Korea hacking at a May 18, 2026, press conference, framing it as the first time the group would formally consider a collective response to state-sponsored crypto theft.
Prior G7 discussions had floated a dedicated task force and new traceability rules for transactions involving anonymous wallets, including tighter compliance obligations for exchanges and blockchain analytics partnerships.
Policy commentary around the June 2026 declaration also highlights pressure to impose secondary sanctions on entities that facilitate laundering for Lazarus-linked actors, and to require virtual asset service providers (VASPs) to proactively block transactions from identified North Korean wallets.
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The post G7 Targets North Korea Crypto Hackers as Weapons-Financing Threat After $6.75B Stolen appeared first on 99Bitcoins.
