North Korea’s Cyber Heist: Billions Stolen Through Spear Phishing Attacks

In 2025, North Korean hacking groups, notably Lazarus Group, carried out sophisticated spear phishing attacks to steal billions from cryptocurrency exchanges and wallets worldwide. These attacks highlight vulnerabilities in the digital asset security landscape, raising concerns about market trust and prompting regulatory scrutiny. The Lazarus Group is known for orchestrating major crypto heists, including a $1.5 billion theft from Bybit exchange using spear phishing techniques to target key individuals in the crypto sector.