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North Korea is accused of carrying out a Bitcoin theft worth 23 million dollars that crippled an exchange in the UK.
North Korea is accused of stealing £17 million in Bitcoin from the Lykke exchange (UK), forcing the platform to freeze transactions, cease operations, and ultimately be liquidated by a UK court. According to the UK Treasury, North Korea's Lazarus hacking group is behind the attack, allegedly aimed at funding its nuclear and military programs. Whitestream (Israel) also traced and detected the laundered funds through non-compliant cryptocurrency platforms, complicating the investigation.
Lykke, founded in 2015 in Switzerland but registered in the UK, once promised fee-free trading. However, after incurring losses of $22.8 million in 2023, the company was forced to cease operations. By March 2025, a UK court declared liquidation after more than 70 customers sued for the return of £5.7 million. Founder Richard Olsen has gone bankrupt and is under investigation, while North Korea continues to be accused of using cryptocurrency to maintain its regime.