North Korean Hackers Stole $659 Million in Crypto Last Year

In a rare joint statement, South Korea, the U.S., and Japan blamed North Korean hackers for stealing a record $659 million in cryptocurrency previous year. The stolen funds are believed to be going toward North Korea’s illegal weapons programs.

This marks the first time any three nations have blamed North Korea and that also directly for such insane large scale crypto robbery. Among the major targets were India’s WazirX exchange, losing $235 million, and Radiant Capital, which suffered a $50 million hack. An additional $374 million was stolen from platforms like DMM Bitcoin, Upbit, and Rain Management, according to industry reports.

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Hacking groups like Lazarus, linked to North Korea, are behind these thefts. They executed sophisticated cyberattacks, often employing malware to breach systems. “The DPRK’s cyber program poses a serious threat to global financial stability,” the statement warned.

The statement urged blockchain firms and crypto exchanges to bolster their defenses and avoid unknowingly hiring North Korean IT workers. “Our governments are committed to preventing thefts by the DPRK and recovering stolen funds,” it added.

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North Korea has a long history of using cybercrime to fund its missile and weapons programs. As these attacks grow in frequency and scale, the three nations pledged to work together to counter these rising cyber threats.

Sahil Poudel

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