SEOUL: Authorities are investigating a major cryptocurrency theft that may be linked to a North Korean hacking group. The stolen amount is close to $300 million, making it one of the biggest crypto heists of 2026.
According to Beyond Time News, hackers targeted KelpDAO, a digital investment platform, over the weekend. The company confirmed that attackers drained large amounts of crypto during the breach.
CoinDesk reported that the attack hit KelpDAO’s vault on Saturday. The incident has raised fresh concerns about security in decentralized finance systems.
How the attack happened
KelpDAO said hackers broke into two blockchain servers run by LayerZero. This breach gave them access to funds linked to Ethereum.
LayerZero later confirmed the loss and estimated it at around $290 million. The company said a highly advanced state-backed group likely carried out the attack. It pointed to North Korea’s Lazarus Group.
The firm also said the attack did not spread to other platforms or assets. This helped prevent further losses.
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Growing concerns in crypto security
Blockchain systems remove banks and other middlemen. This makes transactions faster. However, it also increases security risks.
Experts say decentralized finance (DeFi) platforms face growing threats from hackers. These systems often attract large-scale cyberattacks.
Henri Arslanian, co-founder of Nine Blocks Capital Management, said such incidents create fear among new investors. He added that the scale of this attack strongly suggests involvement of North Korea’s Lazarus Group.
Rising global cyber threats
A United Nations report in 2024 said North Korea stole more than $3 billion in cryptocurrency since 2017. The funds are believed to support its weapons program.
In 2025, the United States also blamed North Korean hackers for a $1.5 billion crypto theft. That case was once the largest digital heist on record.
Experts warn that cyberattacks on crypto platforms may increase. They also stress the need for stronger security in the digital finance sector.
