North Korea Connected to £17 Million Cryptocurrency Theft That Led to UK Company's Downfall

North Korea's Lazarus Group Involvement: The Lazarus Group has been implicated in a £17 million cryptocurrency heist that caused the collapse of Lykke, a UK-based crypto trading platform.

Lykke's Operational Shutdown: Following the hack and subsequent customer complaints, Lykke was forced to cease operations and liquidate in March 2025, despite initial promises to reimburse clients.

Attribution and Laundering Tactics: The UK Treasury identified the Lazarus Group as the attackers, with reports indicating that stolen funds were laundered through unregulated crypto exchanges, although some researchers question the attribution.

Regulatory Warnings and Impact: The UK's Financial Conduct Authority had previously warned that Lykke was not authorized to provide financial services, leading to halted trading and frozen customer access after the hack.