North Korean Hackers Steal $340M in Crypto in 2023

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TRM Labs has reported in August that North Korean cybercriminals had stolen around $2 billion in digital currencies since 2018.

However, by the end of last year, security measures had begun to lead to a decrease in the effectiveness of these hacker attacks.

Analysis from Chainalysis has revealed that digital asset thefts by DPRK-based criminals dropped 80% from 2022 to 2023, with just $340.4 million worth of assets stolen.

The majority of these thefts came at the hands of what is known as the Lazarus Group, which alone accounted for $1.6 billion in crypto theft in the last year.

Despite some companies’ efforts to ameliorate user safety, the recent Coinex platform hack demonstrated that there is still a long way to go in terms of promptly detecting and eliminating software vulnerabilities.