The crypto world is on edge after hackers believed to be linked to North Korea pulled off a staggering $290 million digital heist, one of the biggest so far this year.
The attack targeted KelpDAO, a decentralized finance (DeFi) platform, where attackers exploited a critical system weakness in its cross-chain infrastructure. Instead of breaking the system directly, they manipulated how transactions were verified, tricking the platform into approving fake transfers and allowing them to drain funds rapidly.
Investigators and blockchain analysts have linked the operation to the notorious Lazarus Group, a state-backed hacking network widely associated with North Korea and known for some of the largest crypto thefts in history.
What makes this attack even more alarming is its ripple effect. The stolen assets were quickly moved across multiple platforms and used within other DeFi systems, forcing major protocols to freeze transactions and limit exposure to prevent further damage.
Experts say the breach didn’t just expose one platform, it revealed a deeper problem in the crypto space: vulnerabilities in how different blockchain systems connect and trust each other.
This latest incident adds to a growing pattern. North Korean-linked hackers have been responsible for billions of dollars in crypto thefts, often using the funds to support state operations and bypass global sanctions.
