North Korea is the most notorious of crypto thieves.
Recently, a report by the United States, Japan, and South Korea was released on North Korea’s crypto cyber attacks. The report said that North Korean hackers stole more than $659 million worth of crypto assets in 2024.
Among the groups that stole crypto after cyberattacks is the Lazarus hacking group, which the US government fears has been carrying out cyberattacks worldwide since 2009.
North Korean hackers have targeted crypto exchanges, digital asset holders, and crypto owners. The three-country report said that these hackers used malware such as TraderTraitor and AppleJeus to infiltrate their targets’ systems and carried out sophisticated social engineering attacks.
North Korean hackers were behind the cyberattack on India’s largest Bitcoin exchange, WazirX. WazirX lost $235 million at the time. Other notable attacks include DMM Bitcoin ($308 million), Upbit ($50 million), Rain Management ($16.13 million), and Radiant Capital ($50 million).
A report by blockchain analyst Chainalysis suggests that North Korean hackers are more likely to be at the hands of hackers. According to Chainalysis, North Korean hackers stole $1.34 billion in 47 cyberattacks last year.
“In 2023, North Korean hackers stole $660.50 million from 20 attacks. In 2024, they stole $1.34 billion from 47 attacks. This represents a 102.88% increase in the value of the theft,” Chainalysis said.
This is a new record. In 2022, North Korean hackers stole $1.1 billion from cyberattacks.