North Korea Denies Involvement in Major Crypto Hacks Despite Growing Evidence

The North Korean government has rejected accusations that it is behind major cryptocurrency hacks, despite evidence from cybersecurity firm TRM Labs suggesting that the country is responsible for a significant portion of global hack losses.

According to TRM Labs, actors linked to North Korea were responsible for about $577 million in stolen crypto between January and April 2026, accounting for 76% of all global hacking losses during the period. This figure was largely driven by two April exploits, including a $292 million breach of KelpDAO and a $285 million attack on Drift Protocol.

The U.S. Treasury has previously sanctioned six individuals and two entities tied to North Korean IT worker schemes that generated nearly $800 million in 2024, highlighting concerns about the country's use of cryptocurrency for illicit activities.