North Korea Hackers Stole $2 Billion in Crypto Since 2018

North Korean hackers continue to be a threat to the cryptocurrency ecosystem, stealing an estimated $2 billion in cryptocurrencies over the last five years.

TRM Labs, a blockchain intelligence organization, has revealed its latest deep dive into the murky realm of cryptocurrency-related hacking, focused on North Korean cybercriminals' exploits.

North Korea stole almost $200 million in cryptocurrency in 2023, representing for 20% of all stolen assets this year, according to TRM Labs statistics. North Korean cyberattacks are thought to be 10 times more destructive than other bad actors' assaults.

The country's hackers have also focused on the decentralized finance (DeFi) ecosystem, preying on cross-chain bridges that continue to handle a considerable volume of cryptocurrency payments.

Cross-chain breaches, such as the Axie Infinity Ronin Bridge hack, resulted in the theft of $650 million in cryptocurrency, with North Korean hackers stealing around $800 million in three separate attacks in 2022 alone.

These cyberattacks are carried out in a variety of ways, including phishing and supply chain attacks employing compromised private keys and seed phrases.

Sources:

https://cointelegraph.com/news/north-korean-hackers-steal-2b-of-crypto-since-2018-report

https://www.trmlabs.com/post/inside-north-koreas-crypto-heists