Recent research reveals a surge in cyber thefts linked to North Korean hackers, particularly targeting high net worth cryptocurrency holders. This year, they have stolen over $2 billion, setting a record for unauthorized digital asset acquisitions.
North Korean Cyber Theft Statistics
- Total cyber thefts in 2023: over $2 billion
- Percentage of North Korea’s GDP: approximately 13%
- Cumulative crypto assets stolen since 2020: over $6 billion
- Largest single theft: $1.4 billion from ByBit in February 2023
- Amount stolen from WOO X in July: $14 million
- Individual theft record so far: $100 million
Targets and Methods of North Korean Hackers
Cybersecurity researchers, like those at Elliptic, have focused on the tactics employed by North Korean hackers, particularly the Lazarus Group. The shift in focus from businesses to affluent individuals is attributed to a perceived lack of stringent security measures among the latter.
Dr. Tom Robinson, chief scientist at Elliptic, emphasizes that these personal thefts are often underreported. This underreporting may suggest the total number of cyberattacks linked to North Korea could be significantly higher than officially known.
The Implications of Cyber Crime
The funds acquired through these cybercrimes are believed to be funneled into North Korea’s nuclear and missile development initiatives. Security agencies in the West express concern over the continued sophistication of these hacking operations.
Notable Incidents in 2023
- February: North Korean hackers steal $1.4 billion from the crypto exchange, ByBit.
- July: An attack on WOO X results in the theft of $14 million from nine users.
- Additional theft of $1.2 million from Seedify, among others.
Research by companies like Elliptic and Chainalysis has enabled tracking of stolen assets through blockchain technology. Insights into these thefts highlight patterns and tools customary to North Korean hacking operations.
Addressing North Korean Cyber Activities
As questions linger regarding North Korea’s engagement in these cybercrimes, the country’s embassy in the UK did not provide a comment on the allegations. Historically, the North Korean regime has denied any involvement in hacking activities.
Experts continue to monitor these cyber threats closely as the situation evolves. The ramifications of such cyber thefts have far-reaching consequences, impacting both financial security and international relations.
