North Korea has secured its status as the third-largest holder of Bitcoin in the world, surpassing most countries in terms of cryptocurrency assets. According to The Times, this result was made possible by the successful operations of local hackers, who in February 2025 carried out the largest attack in history on the Bybit cryptocurrency exchange, stealing digital assets worth over $1,5 billion in Ethereum. As of today, Pyongyang has 13 Bitcoins at its disposal, which, converted to the current exchange rate, is about $562 billion or more than 1,14 billion rubles.

According to the FBI, North Korean cybercriminals, primarily the Lazarus group, are actively using cryptocurrency thefts to replenish the state treasury. Analysts call these funds a “lifeline” for the Kim Jong-un regime, emphasizing that they are used to finance the defense industry, including nuclear and missile programs. The success of the Bybit attack allowed North Korea to overtake countries such as China and Japan in terms of bitcoin reserves, second only to the United States and Great Britain, whose reserves amount to tens of thousands of coins, accumulated mainly through confiscations.

The attack on Dubai-based crypto exchange Bybit has become a notable event in the world of cybersecurity. Hackers breached the platform’s security system, stealing significant amounts of Ethereum, which they then converted into Bitcoin through a series of complex transactions. This allowed the funds to be transferred to wallets controlled by Pyongyang. Bybit representatives confirmed the hack, saying they are working with international law enforcement to investigate the incident and minimize damage to users.

Experts note that North Korea has been using cyberattacks as a tool for economic survival in the face of tough international sanctions for several years now. According to UN estimates published in a 2024 report, up to 40% of the country's nuclear program funding is provided by "illicit cyber means." In 2023, the FBI reported that Pyongyang had stolen about $600 million in cryptocurrency from the Ronin Network platform, which is associated with the Axie Infinity game. At the same time, the US authorities imposed additional sanctions against Lazarus, but this did not stop the hackers.

In the wake of the February attack, analysts at The Times point out that North Korea’s success in the cryptocurrency space has been made possible by the high level of expertise of its experts and the weak security of many exchanges. Unlike traditional reserves, such as the gold in Fort Knox, bitcoins remain vulnerable to digital theft, making them an attractive target for resource-poor states. After the Bybit hack, Pyongyang not only strengthened its position in the ranking of bitcoin holders, but also demonstrated its ability to adapt to modern financial instruments.