North Korean hackers stole $ 600 million in cryptocurrency in 2023

Last year, North Korea-linked hackers were involved in one-third of all crypto exploits and thefts, and stole $ 600 million worth of cryptocurrencies, according to a study by TRM Labs, a company specializing in blockchain and cryptocurrency analytics. In general, over the past six years, hackers affiliated with the DPRK government have managed to steal almost $ 3 billion, according to TRM Labs.

At the same time, in 2023, about 30% less was stolen than in 2022, when hacker groups affiliated with the DPRK stole about $ 850 million. The Ronin Bridge exploit accounted for most of that amount, said Ari Redboard, head of legal and government affairs at TRM Labs. In 2023, most of the funds were stolen by hackers over the past few months. Back in August, TRM reported the theft of about $ 200 million by hackers linked to North Korea, and by the end of the year, the amount of stolen funds increased to $ 600 million.

According to Redbird, North Korean hackers are attacking computer systems at an unprecedented rate, still using social engineering in many cases, which allows attackers to obtain private keys to access projects.

In total, in 2023, $ 1.7 billion was stolen as a result of hacker attacks, which is less than the amount stolen the previous year, which amounted to $ 4 billion. Redboard explained the drop by several factors. First, there were fewer large hacks, such as Ronin Bridge, last year. The analyst also noted the successful actions of law enforcement agencies, improved cybersecurity controls, and, to a limited extent, price volatility over the past year.