High-profile incidents attributed to these groups include the US$600 million Ronin network breach and the US$230 million theft from the WazirX exchange.
A joint statement released on January 14 emphasized that North Korea’s cyber activities jeopardize the “integrity and stability of the international financial system” and are linked to funding its weapons of mass destruction and ballistic missile programs.
“Our three governments strive together to prevent thefts, including from private industry, by the DPRK and to recover stolen funds with the ultimate goal of denying the DPRK illicit revenue,” the statement said, highlighting a unified approach to combat these operations across public and private sectors.
North Korean-affiliated hackers were responsible for multiple significant breaches in 2024, including attacks on DMM Bitcoin (US$305 million), Upbit (US$50 million), Radiant Capital (US$50 million), and Rain Management (US$16 million). Over the past year, they stole more than US$1.34 billion in digital assets across 47 incidents—a 102% increase from 2023, according to Chainalysis. These thefts represented 61% of the total crypto value stolen in 2024.
Chainalysis data also reveals a shift toward more lucrative attacks. North Korean hackers executed more large-scale operations in 2024, with profits from individual hacks often exceeding US$50 million—signaling increased sophistication in their methods.
The three nations’ joint warning highlights the urgency of addressing this growing threat to both the legitimacy of the cryptocurrency industry and global financial security.
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