DPRK hackers hacked a record number of crypto platforms and stole more than $1 billion last year

Attack more, steal less - this is the tendency of activity of crypto-hackers from North Korea as traced in Chainalysis report.

In 2023, hackers related to North Korea hacked a total of 20 crypto-platforms - a record level of activity in the last 7 years. However, the total amount of stolen funds amounted to over $1 billion, which is less than the record $1.7 billion in 2022.

"In recent years, cyber attacks related to North Korea have increased, and cyber espionage groups such as Kimsuky and Lazarus Group use various malicious tactics to obtain a large amount of crypto-assets," the Chainalysis report said.

Another company, TRM Labs, engaged in blockchain intelligence, reports a slightly lower amount - according to its data, hackers related to North Korea stole at least $600 million in cryptocurrency in 2023.

According to CNBC, in September, the FBI confirmed that the North Korean Lazarus Group was responsible for the theft of crypto assets from online casinos and betting platform Stake.com totaling about $41 million.

On November 29, the Office of Foreign Assets Control of the U.S. Department of the Treasury imposed sanctions on Sinbad.io - a coin mixer that is a key money laundering tool for Lazarus Group. It is reported that Sinbad.io "assisted" Lazarus Group in laundering millions of dollars of cryptocurrency stolen in hacking attacks on Horizon Bridge and Axie Infinity, in particular.

A previous study showed that North Korea-affiliated hackers stole hundreds of millions of cryptocurrencies to finance nuclear weapons programs.

After North Korea conducted its first nuclear test in 2006, the state faced several UN sanctions aimed at restricting the regime's access to the necessary sources of funding to support its nuclear activities.

"As nearly $1.5 billion has been stolen in just the last two years, North Korea's hacking prowess demands constant vigilance and innovation from business and governments," TRM Labs report from January 5 says. "Despite significant progress in cybersecurity on exchanges and increased international cooperation in tracking and returning stolen funds, further intrusions from the world's most active cybercriminal are likely to be expected in 2024."