North Korea Stole Over $600 Million in Crypto in 2023

According to a report by TRM Labs, hackers linked to North Korea stole $600 million worth of cryptocurrency in 2023, with the potential to have stolen up to $700 million.

The report also states that North Korean hackers were responsible for roughly 33% of all crypto stolen through hacks in 2023.

The country’s attacks involving digital assets have been increasing since 2017, with the hackers compromising users’ private keys or seed phrases, transferring funds to DPRK-controlled wallets, and then swapping the assets for Tether (USDT) or Tron (TRX) .

The report suggests that the DPRK’s methods for money laundering are “constantly evolving to evade international law enforcement pressure”.