Is the 80% Drop in Stolen Crypto Funds by North Korea a Sign of Improved Security, or Just a Temporary Lull? 👀
In 2023, North Korea-linked hackers stole $340.4 million in cryptocurrency, marking an 80% decrease from the previous year. However, experts warn against complacency, as this decline may not reflect improved #security .
#Chainalysis , a blockchain forensics firm, emphasizes that 2022 set a high benchmark for theft. Recent attacks by North Korea's Lazarus Group, responsible for 30% of crypto thefts in 2023, highlight ongoing risks. To enhance defenses, experts recommend training crypto firm employees to counter social engineering tactics.
Additionally, North Korean hackers are increasingly relying on Russian-based exchanges to launder funds. The United Nations aims to combat North Korea's #cybercrime , fueled by stolen funds supporting its nuclear missile program. Increased smart contract audits are also proposed to thwart these hackers.
