North Korean hackers confirmed to have stolen $600 million in cryptocurrency in 2023

Author: Sissi; Source: FX168 Finance

FX168 Financial News (North America) Blockchain Intelligence firm TRM Labs reports that groups linked to the Democratic People’s Republic of Korea (DPRK) accounted for approximately 33% of all cryptocurrencies stolen through hacking attacks in 2023.

According to a report on January 5, TRM Labs said that North Korean hackers may have stolen up to $700 million in cryptocurrency in 2023, including those confirmed by its research The amount is US$600 million. North Korean hackers have stolen approximately $3 billion worth of cryptocurrency since 2017, indicating an increase in attacks involving digital assets in the country over the past year.

The blockchain company reports that the methods used by North Korea to launder money "continue to evolve to circumvent international law enforcement pressure." Research shows that hackers almost always break A user’s private key or seed phrase, the funds are transferred to a North Korean-controlled wallet, and the assets are then exchanged for Tether or Tron.

TRM Labs said: "North Korea's hacking capabilities require continued vigilance and innovation from businesses and governments. Although exchanges have made significant progress in cybersecurity and are in International cooperation in tracking and recovering stolen funds has increased, but 2024 is likely to see the world's most prolific cyberthieves wreak further havoc."

U.S. Treasury officials imposed sanctions on individuals and hacking groups allegedly linked to North Korea, including the Lazarus Group. After the Treasury Department imposed sanctions on cryptocurrency mixers Tornado Cash and Sinbad, TRM Labs reported that “North Korea continues to explore additional money laundering tools.

(TRM Labs report: North Korean hackers stole $600 million in cryptocurrency, source: A security breach resulted in more than $1.8 billion in cryptocurrency losses, one-third of which was allegedly caused by North Korean hackers. According to reports, the Ethereum network suffered the most losses among 224 incidents, amounting to $686 million.

U.S. officials often mention digital assets when imposing sanctions on certain entities, including the terrorist group Hamas, which launched the October 7 attack on Israel. Cryptocurrency Mixer It is also a particular target of lawmakers, who claim that the technology is mainly used for illegal purposes.