North Korean Hackers Break Records with $1 Billion Cryptocurrency Theft

recent report has unveiled a concerning surge in cyber-attacks orchestrated by
North Korea-linked hackers, indicating a growing trend in the targeting of
cryptocurrency assets. The analysis firm's findings revealed that in 2023,
these hackers conducted a staggering 20 attacks, marking the highest number
recorded since such record-keeping began in 2016.</p><p>North
Korean Cyber Threats Intensify: Kimsuky and Lazarus Group on the Radar</p><p>While
the total value of stolen cryptocurrency witnessed a drop from the previous
year, decreasing from $1.7 billion in 2022 to slightly over $1.0 billion in
2023, as reported by Chainalysis. The rise in the number of hacking incidents
raises alarms within the cybersecurity community. The report highlights the
persistent threat posed by North Korean cyber-espionage groups, including
Kimsuky and Lazarus Group, who employ various malicious tactics to accumulate
substantial amounts of crypto assets.</p><p>The
breakdown of the stolen funds indicates that North Korea-linked hackers
targeted various sectors within the cryptocurrency ecosystem. In 2023,
approximately $428.8 million was stolen from <a href="">decentralized finance (DeFi)</a>
platforms, reflecting a notable decrease in comparison to previous years.
Despite this drop, the overall number of hacking incidents targeting DeFi
protocols remained a cause for concern.</p><p>Centralized
services were not immune to the onslaught, with hackers making off with $150.0
million, while exchanges and wallet providers experienced losses of $330.9
million and $127 million, respectively. This diversification of targets
underscores the adaptability and evolving strategies employed by North Korean
hackers to exploit vulnerabilities across the cryptocurrency landscape.</p><blockquote><p lang="en" dir="ltr">North Korea-linked hackers attacked a record number of crypto platforms and stole over $1 billion worth of crypto assets last year, according to a new report. <a href=""></a> <a href=""></a></p>— The Hill (@thehill) <a href="">January 24, 2024</a></blockquote><p>Cybersecurity
Alert: Surge in 2023 Hacking Incidents Sparks Vigilance Call</p><p>The
report emphasizes that the surge in the number of hacking incidents in 2023 is
a cause for heightened vigilance, even though the total value of stolen <a href="">cryptocurrency</a>
decreased. The cybersecurity community is urged to remain proactive in
developing countermeasures to protect against the persistent and evolving
threats posed by <a href="">North
Korea</a>-linked hacking groups.</p><p>As
governments, organizations, and individuals continue to navigate the complex
landscape of cybersecurity, the need for collaborative efforts and robust
defense mechanisms becomes increasingly paramount to safeguard the integrity of
the cryptocurrency ecosystem.</p>

This article was written by Tareq Sikder at

Leave a Comment

Leave a Reply

Your email address will not be published. Required fields are marked *