North Korea-linked hackers have stolen a total of $340.4 million worth of cryptocurrency in 2023, a significant decrease from the record $1.65 billion reported stolen in 2022. However, according to Chainalysis, this decrease is not necessarily an indicator of improved security or reduced criminal activity. The firm warns that one large hack could easily push the total stolen funds for 2023 over the billion-dollar threshold. In the past 10 days, North Korea’s Lazarus Group has been linked to two separate hacks, Stake ($40 million) and CoinEx ($55 million), resulting in a combined loss of over $95 million. North Korea-linked attacks have made up for about 30% of all crypto funds stolen in hacks this year. Chainalysis has found that North Korea has been using various Russian-based exchanges since 2021 to launder illicit funds. The firm also noted that United States-sanctioned cryptocurrency mixers Tornado Cash and Blender have been used by Lazarus Group in the Harmony Bridge hack and other high-profile hacks. The United Nations is making an effort to curtail North Korea’s cybercrime tactics at the international level, as the stolen funds are believed to be used to support its nuclear missile program. Chainalysis hopes increased smart contract audits will make life tougher for these hackers.

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Information	Details
Geography	Asia
Countries	🇺🇸
Sentiment	negative
Relevance Score	9
People	FBI, Tornado Cash, Blender, Lazarus Group, Chainalysis
Companies	Tornado Cash, Blender, Chainalysis, Harmony, Stake, CoinEx
Currencies	Bitcoin, Ethereum, US Dollar, Stake DAO, CoinEx
Securities	None