[COVER STORY] North Korea has every incentive to keep stealing crypto, analysts say

The $6.36 billion cryptocurrency heist targeting Binance has exposed a troubling reality for the digital asset industry: North Korea is increasingly exploiting security vulnerabilities to bankroll Pyongyang's military ambitions. The stolen amount is equivalent to 22 percent of North Korea's 2025 gross domestic product, making the attack the largest cryptocurrency theft on record and one of the biggest financial crimes in history. Analysts warned Sunday that it is unlikely to be the last. "We're dealing with sophisticated adversaries who may have substantial resources, years of patience and objectives that extend well beyond financial gain," said Michael O'Loughlin, managing partner of Argonautic Global and board member of Blockchain Ireland. Proceeds from cryptocurrency theft have become an increasingly important source of funding for cash-strapped North Korea, alongside an estimated $22 billion in foreign income generated since 2022 through its support for Russia's war in Ukraine. The stolen funds could help finance its nuclear and ballistic missile programs, as well as efforts to modern