North Korean hackers were responsible for a third of cryptocurrency attacks last year, stealing around $600 million

According to PANews, a report by TRM Labs shows that hackers associated with North Korea were involved in one-third of cryptocurrency attacks and thefts throughout the year last year, stealing about $600 million in funds. This brings the Democratic People’s Republic of Korea’s total revenue from crypto projects over the past six years to nearly $3 billion. Nevertheless, this figure is about 30% less than in 2022.

TRM Labs noted that most of the stolen funds were stolen in the last few months of last year, with TRM blaming North Korea for approximately $200 million in stolen funds in August 2023. These attacks often employ so-called social engineering techniques, allowing attackers to obtain a project's private keys. It is worth noting that the proceeds of North Korea's attacks are used to develop weapons for mass destruction, raising national security concerns.