North Korean hackers have stolen a record-breaking amount of cryptocurrency in 2024, amassing over $1.34 billion through 47 incidents. This represents a significant surge from 2023, highlighting the escalating sophistication and scale of their operations.
In 2024, hackers linked to North Korea set a new record for cryptocurrency theft . Known for their expertise in malware deployment, social engineering, and crypto asset theft, these hackers often funnel stolen funds into state-sponsored endeavors, including weapons of mass destruction and missile programs, circumventing global sanctions. In 2023, they stole roughly $660.5 million through 20 incidents, but this amount surged to $1.34 billion across 47 cases in 2024, representing a 102.
88% increase in stolen value. The frequency of North Korea's cryptocurrency attacks continues to rise, even as the overall number of incidents across all scales has declined year-over-year. Notably in 2024, there was a marked increase in large-scale attacks involving $50-$100 million and sums exceeding $100 million. This indicates that North Korea is becoming more adept at orchestrating high-value breaches, a notable shift from the previous two years when their attacks predominantly yielded less than $50 million per incident. They target crypto and Web3 companies, compromising their systems and integrity. Utilizing advanced tactics like false identities, third-party hiring intermediaries, and exploiting remote work opportunities, they gain access to sensitive networks. Fourteen North Korean nationals who impersonated remote IT employees for US companies, stole proprietary information and extorted employers, resulting in $88 million in illicit earnings. While North Korea's exploits dominate this year's hacking statistics, the global landscape underscores the persistent threat of crypto theft. Total stolen funds reached $2.2 billion in 2024, marking the fifth year in the past decade where over $1 billion was stolen. This means that North Korea accounts for 61% of the total stolen crypto for the year and 20% of all incidents. Interestingly, while hacking activity surged in the first half of 2024, with $
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