North Korea Hacks 20 Cryptocurrency Platforms Worth 11 Billion USD in 2023

Last year, North Korea’s hacking organization was particularly active in cryptocurrency hacking.

According to a report released by blockchain analysis company Chainalysis on the 24th (local time), a hacking group associated with North Korea hacked 20 cryptocurrency platforms worldwide last year, stealing cryptocurrencies worth 1 billion dollars (approximately 1.3 trillion KRW).

This surpasses the 15 places in 2022, and it is the highest number since North Korea’s cryptocurrency hacking data was collected since 2016. However, the amount is slightly less than the 1.7 billion dollars reported in 2022.

In 2021, the hacking group with ties to North Korea stole cryptocurrencies worth 429 million dollars from nine locations.

Last year, the North Korean hacking organization was suspected of stealing 428.8 million dollars from decentralized finance (DeFi, financial services carried out through pre-programmed agreements using cryptocurrencies) platforms. They also targeted exchanges (330.9 million dollars) and wallet providers (120.7 million dollars).

Chainalysis stated, “Hacker organizations such as Kim Su-ki and Lazarus Group are employing various malicious tactics to acquire large amounts of virtual assets, and North Korea-related hacking has been increasing in recent years.”