North Korean hackers They stole $600 million in crypto in 2023: report it

According to blockchain intelligence firm TRM Labs, groups linked to the Democratic Republic of Korea (DPRK) were responsible for 33 percent of all crypto stolen in hacks in 2023.

According to a January 5 report, TRM Labs stated that North Korean hackers could steal up to $700 million in crypto by 2023, with $600 million confirmed by research. DPRK hackers have stolen an estimated $3 billion worth of crypto since 2017, indicating that attacks on digital assets in the country have increased over the past year.

The blockchain organization reports that the DPRK's money-laundering methods are “constantly evolving.”[ing] To escape international law enforcement pressure. According to the study, the hackers almost always compromise users' private keys or lineages, transfer funds to DPRK-controlled wallets, and then exchange the assets for Tether (USDT) or Tron (TRX).

“North Korea's hacking capabilities require continued vigilance and innovation from businesses and governments,” TRM Labs said. Despite significant improvements in cybersecurity exchanges and increased international cooperation in tracking and recovering stolen funds, 2024 could see further disruptions from the world's most advanced cyber-thieves.

US Treasury officials have imposed sanctions on individuals and hacking groups, including Alazar, who they say have ties to North Korea. Following the department's sanctions on Tornado Cash and Sinbad, TRM Labs reports that the DPRK “continues to explore other laundry facilities.”

North Korean hackers will steal $600 million in crypt by 2023, TRM Labs research shows. Read the story now: https://t.co/dyNmTcVzcP

— TRM Labs (@trmlabs) January 5, 2024

Related: Orbit Bridge Hack Pushes December's Crypto Heist to Nearly $100M

CertiK reported on January 3 that there were approximately 751 breaches in 2023, which resulted in losses of over $1.8 billion in crypto – a third of which DPRK hackers were said to be responsible for. The Ethereum network recorded a massive loss of $686 million over 224 events.

US officials have repeatedly cited digital assets as reasons for imposing sanctions on certain entities, including the terrorist group Hamas, following the October 7 attacks on Israel. Cryptocurrency microcryptors have also been particularly targeted by lawmakers.

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