North Korean hackers continue to threaten the broader cryptocurrency ecosystem, having stolen an estimated $2 billion of crypto over the past five years.
Blockchain intelligence firm TRM Labs released its latest deep dive into the murky world of cryptocurrency-related hacking, focusing on the exploits of North Korean cybercriminals. According to TRM Labs’ data, North Korea has stolen around $200 million of crypto in 2023, accounting for 20% of all stolen funds this year.
North Korean cyberattacks are estimated to be 10 times larger than attacks by other malicious actors. Hackers from the country have also honed in on the decentralized finance (DeFi) ecosystem, preying on cross-chain bridges that continue to handle a significant volume of cryptocurrency transfers.
Related: North Korea stole more crypto in 2022 than any other year: UN report
Cross-chain hacks, such as the Axie Infinity Ronin Bridge hack, resulted in $650 million of crypto stolen, with North Korean hackers collectively stealing around $800 million in three separate attacks in 2022 alone.
The methods used to carry out these cyberattacks vary, with phishing and supply chain attacks involving compromised private keys and seed phrases.
TRM Labs notes that North Korean hackers have become…
