How the G7 Summit Will Discuss Crypto’s Biggest Problem: North Korea’s Crypto Hacking Empire in June

08 May, 2025 Updated 08 May, 2025

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Pooja Khardia is a seasoned crypto content writer with 6+ years of experience in writing, including in blockchain, cryptocurrency, DeFi, and digital finance reporting. In her adventure journey, she is currently working with CoinGape Media and leading their Trending Section. Here, she uses her expertise to deliver analytics, market insights, price predictions, and information on what’s trending in the crypto space, aiming to keep the crypto and web3 community updated with market trends and important insights. Known for a user-centric and straightforward writing style, Pooja is passionate about making crypto easy and accessible. Her writing blends market research with storytelling, helping readers stay ahead in a fast-paced industry. When not behind the keyboard, Pooja embraces her creative side through drawing and crafting. Connect with Pooja on LinkedIn or X.

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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.

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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.

Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.

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Frequently Asked Questions (FAQs)

1. Will the G7 summit discuss North Korean hacks?

The agenda of the G7 summit has not been revealed yet, so there’s no confirmation, but Bloomberg hints at the possibility.

2. What other topics could be discussed?

Topics like the Russia-Ukraine conflict, the US trade standoff, and various other geopolitical issues can be discussed in the upcoming G7 summit.

3. How much have these hackers stolen?

The North Korean hackers have stolen $1.5 billion in the recent Bybit hack and $1.34 billion in the previous year.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.