North Korean hackers stole $1.3 billion worth of cryptocurrency this year – report
A total of $2.2 billion (£1.76 billion) in cryptocurrencies have been stolen this year, with North Korean hackers accounting for more than half, according to a new study.
Research firm Chainalysis says hackers linked to the reclusive state stole $1.3 billion of digital currencies – more than double the amount last year.
Some of the thefts appear to be linked to North Korean hackers who pose as remote IT workers to infiltrate crypto and other technology firms, the report said.
It comes as The price of Bitcoin has more than doubled Incoming US President Donald Trump this year is expected to be more crypto-friendly than his predecessor Joe Biden.
Overall, the amount of cryptocurrency stolen by hackers in 2024 increased by 21% compared to last year, but it is still below the levels recorded in 2021 and 2022, the report said.
“The increase in stolen crypto in 2024 underscores the need for the industry to address the increasingly complex and evolving threat landscape.”
It said the majority of crypto stolen this year was caused by private keys – which are used to control access to users’ assets on crypto platforms.
“Given that centralized exchanges manage substantial amounts of user funds, the impact of private key compromise could be devastating,” the study said.
Some of the most significant incidents this year include the theft of Bitcoin worth $300m from a Japanese cryptocurrency exchange, DMM Bitcoin, and the loss of approximately $235m from India-based crypto exchange WazirX.
The US government has said that the North Korean regime resorts to cryptocurrency theft and other forms of cybercrime to evade international sanctions and raise funds.
last week, A federal court in St. Louis convicted 14 North Koreans for allegedly being part of a long-running conspiracy Its purpose was to extort money from American companies and send money to Pyongyang’s weapons programs.
The US State Department also announced that it would offer a reward of up to $5 million to anyone providing more information about the alleged scheme.
