North Korean hackers, notably the notorious Lazarus Group, have been a prominent threat in the cybercrime landscape, with their cryptocurrency attacks reaching a significant number in 2023 compared to 2022. Despite the increased number of attacks, blockchain analysis firm Chainalysis reported a drop of over 40% in the value of stolen cryptocurrencies for the year 2023.
Throughout 2023, North Korean cybercriminals conducted 20 attacks, accumulating a total value of approximately $1 billion. In contrast, fewer attempts in 2022 led to a higher theft of over $1.7 billion in cryptocurrencies, primarily by the Lazarus Group.
The Lazarus Group, known as one of the world’s most significant cryptocurrency criminals, is recognized for holding a substantial amount of TRON. A wallet with 137 million TRX attracted market attention as a TRON whale in September 2023. Additionally, the group has amassed over $40 million in Bitcoin alone.
The notable decrease in stolen funds in 2023 suggests an improvement in cryptocurrency security. Chainalysis highlighted a significant decline in attacks, especially on DeFi protocols, with a 64% reduction from $3.1 billion in 2022 to $1.1 billion in 2023.
Chainalysis also reported that North Korean hackers have been laundering their stolen cryptocurrencies through Russian exchanges since 2021, including $21 million from the Harmony Bridge incident.