CryptoMediaClub
Tuesday, July 29, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home Blockchain

North Korean crypto hacks down 80% but that could change overnight: Chainalysis

15.09.2023
A A
0
121
VIEWS
ShareShare

Cryptocurrency stolen by North Korea-linked hackers is down a whopping 80% from 2022 — but a blockchain forensics firm says it isn’t necessarily a sign of progress.

As of Sept. 14, 2023, North Korea-linked hackers have stolen a total of $340.4 million worth of cryptocurrency, down from a record $1.65 billion reported funds stolen in 2022.

Cryptocurrency funds stolen by North Korean-backed groups between 2016-2023. Source: Chainalysis

“The fact that this year’s numbers are down is not necessarily an indicator of improved security or reduced criminal activity,” Chainalysis said in a Sept. 14 report. “We must remember that 2022 set a dismally high benchmark.”

“In reality, we are only one large hack away from crossing the billion-dollar threshold of stolen funds for 2023.”

Over the past 10 days, North Korea’s Lazarus Group has been linked to two separate hacks — Stake ($40 million) on Sept. 4 and CoinEx ($55 million) on Sept. 12, combining for a loss of over $95 million.

With the latest two hacks, North Korea-linked attacks have made up for about 30% of all crypto funds stolen in hacks this year, noted Chainalysis.

Funds stolen from North Korean hacking groups vs others between 2016 and 2023. Source: Chainalysis

North Korea turns to dubious exchanges, mixers

Meanwhile, Chainalysis has found that North Korean hackers have become increasingly reliant on certain Russian-based exchanges to launder illicit funds over the last few years.

The firm said North Korea has been using various Russian-based exchanges since 2021. One of the largest laundering events involved $21.9 million in funds transferred from Harmony’s $100 million bridge hack on June 24, 2022.

United States-sanctioned cryptocurrency mixers Tornado Cash and Blender have also been used by Lazarus Group in the Harmony Bridge hack and other high-profile hacks committed by the group.

We've observed instances of DPRK-linked hackers sending funds to Russian services since 2021. But this year's transfer of $21.9M stolen from Harmony to a high-risk Russian exchange is an escalation of that activity. You can see examples of some of those transactions below. pic.twitter.com/S9cDxlk9Hu

— Chainalysis (@chainalysis) September 14, 2023

Related: FBI flags 6 Bitcoin wallets linked to North Korea, urges vigilance in crypto firms

The United Nations is making an effort to curtail North Korea’s cybercrime tactics at the international level — as it is understood North Korea is using the stolen funds to support its nuclear missile program.

Meanwhile, the firm hopes increased smart contract audits will make life tougher for these hackers.

Magazine:Deposit risk: What do crypto exchanges really do with your money?

Share9Tweet6ShareSharePin2

Related Posts

Ondo Finance Unleashes Revolutionary Tokenized US Treasuries on Sei
Blockchain

Ondo Finance Unleashes Revolutionary Tokenized US Treasuries on Sei

18.07.2025
0

Skip to content

Read moreDetails
Hashed stablecoin: South Korea’s Crypto Giant Unveils Bold Trademark Play

Hashed stablecoin: South Korea’s Crypto Giant Unveils Bold Trademark Play

17.07.2025
LA Token’s Strategic Move: Lagrange Foundation Considers Crucial Buyback for Price Stability

LA Token’s Strategic Move: Lagrange Foundation Considers Crucial Buyback for Price Stability

14.07.2025
Shocking Loss: Crypto Influencer Accidentally Burns $75K in PUMP Token

Shocking Loss: Crypto Influencer Accidentally Burns $75K in PUMP Token

14.07.2025
Dubai’s Historic Approval: Qatar National Bank Launches Revolutionary Tokenized Money Market Fund in DIFC

Dubai’s Historic Approval: Qatar National Bank Launches Revolutionary Tokenized Money Market Fund in DIFC

08.07.2025
Load More
Next Post

Oldest Crypto Exchange Boosting XRP: Details

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

Can XRP Lastly Break $10? Ripple’s Authorized Battle Nears an Finish 

Can XRP Lastly Break $10? Ripple’s Authorized Battle Nears an Finish 

5 months ago
China’s Supreme Procuratorate Outlines Crypto Focus in New AML Law

China’s Supreme Procuratorate Outlines Crypto Focus in New AML Law

8 months ago
Commonplace Chartered believes rising institutional inflows will gasoline crypto market restoration amid coverage uncertainty

Commonplace Chartered believes rising institutional inflows will gasoline crypto market restoration amid coverage uncertainty

6 months ago
BitGo, Swan unveil plans for Bitcoin-only trust company

BitGo, Swan unveil plans for Bitcoin-only trust company

2 years ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

South Korea’s Biggest Parties Roll Out Stablecoin Bills, Clash on Interest Payment Plans

Bitcoin Faces Doomsday Scenario as Whales Exit – Bitcoin Hyper (HYPER) Rewrites the Narrative, ICO Hits $5.4M

Bitcoin steadies near $114,800 but fragility risk rises as leverage climbs

BNB ($BNB) Bulls Charge Ahead to $843, Can Institutional Momentum Push It Higher?

Bitcoin Market Cycles and BTC Rallies Are Outdated

Bitcoin Price Prediction: Global Firms Pour $86B Into BTC – Could This Trigger a New “Institutional Supercycle”?

Trending

Interactive Brokers Mulls Stablecoin Launch to Serve Users
All news

Interactive Brokers Mulls Stablecoin Launch to Serve Users

29.07.2025
0

Interactive Brokers is weighing the launch of its own stablecoin, potentially deepening its involvement in digital assets...

Crypto Price Prediction Today 28 July – XRP, Solana, Dogecoin

Crypto Price Prediction Today 28 July – XRP, Solana, Dogecoin

29.07.2025
BlackRock’s ETHA becomes 4th-largest ETF by 30‑day inflows as Ethereum funds aim for $10B

BlackRock’s ETHA becomes 4th-largest ETF by 30‑day inflows as Ethereum funds aim for $10B

29.07.2025
South Korea’s Biggest Parties Roll Out Stablecoin Bills, Clash on Interest Payment Plans

South Korea’s Biggest Parties Roll Out Stablecoin Bills, Clash on Interest Payment Plans

29.07.2025
Bitcoin Faces Doomsday Scenario as Whales Exit – Bitcoin Hyper (HYPER) Rewrites the Narrative, ICO Hits $5.4M

Bitcoin Faces Doomsday Scenario as Whales Exit – Bitcoin Hyper (HYPER) Rewrites the Narrative, ICO Hits $5.4M

29.07.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz