G7 Urges Joint Action on North Korea Crypto Thefts

G7 countries called for coordinated international action to address theft of cryptocurrency and other state-linked cybercrime tied to North Korea. The group urged faster information sharing, stronger enforcement against laundering and deeper cooperation with industry.

The Group of Seven — Canada, France, Germany, Italy, Japan, the United Kingdom and the United States — set the priorities during discussions on economic security and cyber resilience. Members outlined specific steps for governments, regulators and private firms to take in the coming months.

The G7 urged improvements in how governments exchange intelligence on malicious cyber activity and in the use of financial sanctions to block flows of stolen assets. Members recommended working more closely with virtual asset service providers to detect and stop transfers of illicit funds.

To disrupt networks that convert stolen digital currency into usable revenue, the group called for faster sharing of blockchain forensics, tougher anti-money-laundering controls for crypto exchanges and clearer transparency for on- and off-ramps between crypto platforms and the traditional banking system. The G7 also recommended expanding tools to trace and recover assets and to target service providers that facilitate laundering.

The group placed special emphasis on private-sector cooperation. Exchanges, custody services and analytics firms were identified as central to spotting suspicious transactions. Members asked for clearer reporting requirements, improved public-private information flows and sanctions that are coordinated across jurisdictions.

Officials described a range of tactics used to move stolen funds, including direct theft, ransomware, theft disguised as legitimate transactions, and use of centralized exchanges, peer-to-peer platforms and mixing services. The G7 called for harmonized rules to prevent criminals from exploiting inconsistent regulation between countries.

Members pointed to repeated accusations by governments and investigators that state-linked North Korean cyber units have used cyber theft and cryptocurrency laundering to raise funds despite international sanctions. The group noted that developments in digital finance have created more channels for converting stolen digital assets into cash.

Beyond technical and financial measures, the G7 recommended coordinated legal approaches, including mutual legal assistance and extradition where available, to pursue individuals and networks. The group encouraged capacity building for countries that lack tools to monitor and freeze suspicious crypto flows and urged international bodies to consider tighter standards for virtual asset service providers.

G7 members said they will continue to refine cooperative mechanisms and work with multilateral institutions and industry partners to implement the measures. Agencies and regulators were asked to report back on progress and to increase joint investigations and targeted sanctions against networks that assist in laundering proceeds from state-linked cyber theft.