How the G7 Summit Will Discuss Crypto’s Biggest Problem: North Korea’s Crypto Hacking Empire in June
Highlights
- Bloomberg anticipates that the G7 summit could discuss North Korea's hacking empire.
- North Korean hackers stole $1.5 billion in the recent Bybit hack and billions before.
- The summit's agenda is unclear, but experts hint at potential discussion.
The upcoming G7 summit could take crypto security as its agenda, as Bloomberg reveals potential reasons. North Korea’s hacking empire and hackers have been haunting the crypto industry for years, and the Group of Seven could address this in their upcoming Canada summit, considering the geopolitical consequences of stolen funds. Let’s discuss.
G7 Summit to Address North Korea’s Crypto Hacking Empire
In a Wednesday blog post, Bloomberg highlighted that the G7 summit might discuss the crypto industry’s biggest problem, i.e., North Korean hackers. Although this is just an anticipation, there’s a possibility considering the seriousness of the matter.
The Group of Seven United States, United Kingdom, Canada, France, Germany, Italy, and Japan are to gather for the summit in Alberta, Canada, around mid-June 2025.
The crypto hacks discussion could take the center stage along with the Russia-Ukraine conflict, the US trade standoff, and other geopolitical tensions. Experts have cited North Korea’s malicious activities as alarming. Even the White House has officially claimed that North Korea uses these crypto thieves to fund destructive weapons.
Why the G7 Summit Could Discuss Crypto Hacks?
North Korea’s crypto hacking empire has been active since 2014. It has been targeting crypto firms and exchanges for a decade now. These hackers recently targeted Bybit (2025) and succeeded in stealing $1.5 billion. In 2024 alone, nearly 47 such hacking incidents were reported, stealing $1.34 billion and many more before that.
For more than 10 years, the North Korean hacker has been working under false identities across countries like China and Russia. Crypto exchange Kraken once highlighted one seeking a job under a false identity. Experts believe this to be a concerning issue, as the White House highlighted it to be using stolen funds to equip themselves with destructive weapons and evade sanctions.
The G7 summit could discuss these crucial issues and develop better cybersecurity frameworks. However, the summit agenda is yet to be confirmed.
Frequently Asked Questions (FAQs)
1. Will the G7 summit discuss North Korean hacks?
2. What other topics could be discussed?
3. How much have these hackers stolen?
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