Cryptocurrency stolen by North Korea-linked hackers is down a whopping 80% from 2022 — but a blockchain forensics firm says it isn’t necessarily a sign of progress.
As of Sept. 14, 2023, North Korea-linked hackers have stolen a total of $340.4 million worth of cryptocurrency, down from a record $1.65 billion reported funds stolen in 2022.
“The fact that this year’s numbers are down is not necessarily an indicator of improved security or reduced criminal activity,” Chainalysis said in a Sept. 14 report. “We must remember that 2022 set a dismally high benchmark.”
“In reality, we are only one large hack away from crossing the billion-dollar threshold of stolen funds for 2023.”
Over the past 10 days, North Korea’s Lazarus Group has been linked to two separate hacks — Stake ($40 million) on Sept. 4 and CoinEx ($55 million) on Sept. 12, combining for a loss of over $95 million.
With the latest two hacks, North Korea-linked attacks have made up for about 30% of all crypto funds stolen in hacks this year, noted Chainalysis.
North Korea turns to dubious exchanges, mixers
Meanwhile, Chainalysis has found that North Korean hackers have become increasingly rel
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Author: Brayden Lindrea
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