North Korea has vehemently denied allegations that it is behind a wave of high-profile cryptocurrency hacks, describing the claims as 'false information' and 'absurd slander' intended to damage its global image. A spokesperson for the North Korean Foreign Ministry, speaking through the Korean Central News Agency (KCNA) on May 3, 2025, accused the United States of orchestrating a propaganda campaign using government agencies and compliant media to spread a 'distorted perception' of Pyongyang.
These denials come as international bodies, including the United Nations Security Council, have documented North Korea's cyber activities, with reports consistently identifying the Lazarus Group and its sub-units as the primary culprits. The U.S. Treasury Department has sanctioned multiple North Korean-linked crypto wallets and exchanges. According to blockchain intelligence firm TRM Labs, North Korean hackers have stolen over $6 billion in cryptocurrency since 2017, accounting for a staggering 64% of all crypto hacking damages in 2025 alone.
Major incidents linked to the Lazarus Group include the $1.5 billion Bybit hack in February 2025, the $290 million KelpDAO theft, and the $235 million WazirX breach in July 2024. Despite overwhelming on-chain evidence and technical analysis, North Korea maintains its innocence, framing the allegations as a geopolitical strategy to delegitimize international sanctions and justify its cyber theft operations.
Cybersecurity experts view the denial as a predictable but significant move. Dr. Kim Hyun-woo, a North Korea analyst at the Asan Institute, notes: 'The regime never admits to cyber operations. This denial is a standard playbook response to protect its international image.' The ongoing saga has also accelerated global crypto regulation, with the U.S., European Union, South Korea, and Japan implementing stricter KYC/AML rules and sanctions on North Korean-linked wallets to prevent stolen funds from entering the legitimate financial system.
