North Korean Hackers Stole Over $1.3B Worth Of Crypto In 2024
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North Korea’s state-sponsored hackers stole a staggering $1.34 billion worth of crypto in 2024, over double the $660 million they stole in 20 incidents in 2023. This puts North Korea’s share of global crypto theft at 61%, with total losses hitting $2.2 billion. North Korean Hackers Shatter Record North Korean hackers set an infamous new record in 2024, stealing $1.34 billion worth of crypto. This makes them responsible for over 60% of the $2.2 billion in crypto stolen this year. North Korean hackers are notorious for their skills in malware deployment, social engineering, and crypto asset theft, stealing funds for state projects, including nuclear and missile programs, to help the hermit kingdom bypass global sanctions. According to a report by Chainalysis, the frequency of attacks by North Korean hackers continues to grow despite the total number of incidents declining year-on-year. According to industry experts, North Korean hackers are getting better and faster at engineering and executing massive exploits, with attacks between $50-$100 million and above $100 million occurring with increasing frequency. North Korean hackers have also infiltrated crypto and Web3 companies and compromised the integrity of their systems. Modus Operandi The hackers use false identities, and third-party hiring intermediaries, and exploit remote work opportunities to access sensitive networks. Once they have access to these networks, they steal proprietary information, even accessing and stealing from company accounts. North Korean hackers are targeting the very foundations of the crypto ecosystem. In one of the most outrageous attacks in recent times, the hackers stole 4502 Bitcoin from the Japanese crypto exchange DMM Bitcoin. The stolen assets are funneled through cross-chain bridges and cryptocurrency mixers, making them almost impossible to trace. How 2024 Played Out North Korea’s hacker army operated at full throttle in the first half of 2024. However, their operations substantially declined…
