North Korean hackers have set a new record in cryptocurrency theft, stealing nearly $13.4 billion this year, according to a report released by blockchain data analysis firm Chainalysis on December 19.
The report reveals that North Korea-linked hackers executed 47 thefts from cryptocurrency platforms, amassing a total of $1.34 billion in 2023. This figure is double the amount stolen in 2022 and accounts for two-thirds of the total amount stolen globally from cryptocurrency platforms this year, which stands at $2.2 billion.
The scale of this theft is the largest since Chainalysis began tracking such incidents. In comparison, North Korea stole $665 million in cryptocurrency through 20 hacks in 2022.
The report further noted that North Korea’s cryptocurrency hacking activities have become more frequent and sophisticated over time.
“Tracking North Korea’s hacking activities and comparing them to all other hacks, it’s clear that North Korea has been consistently involved in large-scale hacking operations over the past three years,” the report stated.
This surge in cryptocurrency thefts underscores international concerns that North Korea is using digital assets to fund its development of nuclear weapons and ballistic missiles.
Andrew Fearman, head of National Security Information at Chainalysis, commented, “For years, North Korea has sought to circumvent international sanctions by establishing shell companies and other means to fund its weapons of mass destruction (WMD) and missile development programs. ‘Cryptocurrency hacking’ has become another key mechanism in North Korea’s efforts to raise funds.”
BY YOUNGNAM KIM [kim.youngnam@koreadaily.com]
