As an analyst with extensive experience in tracking cybercrime activities, I find it alarming yet unsurprising to see North Korean hackers at the forefront of crypto thefts again. The escalating scale and frequency of their attacks underscore the urgency for global cooperation in combating these threats.
2024 saw North Korean hacking groups linked to more than half of the total value stolen within the cryptocurrency market, leading governments globally to actively chase these cybercriminals.
It’s widely believed that the Lazarus Group, a well-known hacking collective from North Korea, is the main culprit behind several high-profile cyber heists in the decentralized internet (Web3), such as the theft of $600 million from the Ronin network.
South Korea has recently enforced penalties on fifteen individuals associated with North Korean Information Technology organizations, as well as a single related entity.
According to a press release from South Korea’s Ministry of Foreign Affairs on December 26, it is claimed that authorized representatives are reportedly obtaining funds for North Korea’s nuclear missile development program and its Munitions Industry Department through activities that earn foreign currency abroad.
As a crypto investor, I recently learned that one Kim Cheol-min from the 313 General Bureau, who’s under sanctions, is among those accused of making substantial foreign currency earnings by secretly working for US and Canadian firms. Subsequently, these funds were reportedly funneled towards North Korea’s nuclear weapons program.
A different individual named Kim Ryu Song, who was previously authorized, was accused by American legislators on December 11 for breaching U.S. sanctions, money laundering, and identity theft. Allegedly, this individual made more than $88 million in revenue over a six-year period, as reported by South Korean media sources.
2024 saw a significant jump in crypto thefts, with hackers making off with more than $2.3 billion in digital assets – a rise of over 40% compared to the amount taken in 2023. As a result, sanctions have been imposed this year.
North Korea hackers stole $1.3B worth of value in 2024: Chainalysis
Cryptocurrency safety is increasingly under threat as hacking groups linked to North Korea grow more prominent.
As a crypto investor reflecting on the year 2024, I can’t help but notice the significant rise in digital asset thefts orchestrated by North Korean hackers. In comparison to the $660 million stolen in 2023, they managed to swipe an alarming $1.34 billion across a staggering 47 separate incidents, according to data from Chainalysis. This staggering increase of over 102% is a stark reminder of the evolving and challenging landscape we navigate as crypto enthusiasts.
In the year 2024, that $1.34 billion accounted for more than 61% of the overall value of cryptocurrencies stolen, and it also represented approximately 20% of all hacking occurrences.
However, it’s concerning to note that the number of reported incidents involving North Korean cyber agents appears to be on the rise, as suggested by Chainalysis.
“Notably, attacks between $50 and $100 million, and those above $100 million occurred far more frequently in 2024 than they did in 2023, suggesting that the DPRK is getting better and faster at massive exploits.”
Contrarily, the majority of hacking incidents traced back to North Korea usually resulted in no more than $50 million being pilfered, which suggests that the magnitude of these cyber-attacks might be escalating.
Read More
- CTK PREDICTION. CTK cryptocurrency
- CTXC PREDICTION. CTXC cryptocurrency
- OKB PREDICTION. OKB cryptocurrency
- ZIG PREDICTION. ZIG cryptocurrency
- EUR JPY PREDICTION
- LDO PREDICTION. LDO cryptocurrency
- IMX PREDICTION. IMX cryptocurrency
- CRV PREDICTION. CRV cryptocurrency
- AGI PREDICTION. AGI cryptocurrency
- Jennifer Lopez Makes First Onstage Appearance Amid Ben Affleck Divorce
2024-12-26 12:56