According to a report by TRM Labs, hackers affiliated with North Korea were responsible for a third of all crypto thefts and exploits in 2023, resulting in a total of $600 million in stolen funds. This brings North Korea's total earnings from crypto projects to nearly $3 billion over the past six years. However, this figure is about 30% lower than in 2022, with most of the stolen funds being taken in the last few months of 2023. The attacks continue to use social engineering to acquire private keys for projects, and the proceeds go towards the development of weapons of mass destruction, raising national security concerns.

According to a report by cybersecurity firm Recorded Future, the Lazarus Group, a North Korea-linked hacker organization, has stolen $3 billion in cryptocurrency over the past six years. The report also reveals that in 2022 alone, the group stole $1.7 billion in cryptocurrency, likely to fund North Korean projects. Out of this total, $1.1 billion was stolen from decentralized finance (DeFi) platforms, according to blockchain data analysis firm Chainalysis. The U.S. Treasury Department has introduced new sanctions against North Korea's cyber activities, adding 'Sinbad' to the Office of Foreign Assets Control's specially designated sanctions list, who has been implicated in laundering the cryptocurrencies stolen by the Lazarus Group.

Law enforcement agencies in South Korea have revealed that hackers from North Korea have been impersonating South Korean government agencies and journalists to steal cryptocurrencies. It is reported that the hackers use email phishing techniques to carry out suspicious activities on unsuspecting victims.

According to a report by Chainalysis, North Korean state-affiliated hacking groups have stolen over $340 million worth of cryptocurrency from exchanges and web3 apps this year. This adds to the record-breaking $1.6 billion in North Korea-linked hacks from 2022. Cybercrime has become a significant source of revenue for North Korea's heavily sanctioned economy, with an estimated 30% of cryptocurrency hacks this year linked to the regime.

Three US Senators, Elizabeth Warren, Tim Kaine, and Chris Van Hollen, have written a letter to the White House and Treasury Department urging them to take action against North Korea's use of cryptocurrency to fund its nuclear program and evade sanctions. The senators cited reports that North Korean hackers have stolen over $3 billion worth of crypto since 2018 to fund their missile program. The US Treasury Department has already added Tornado Cash to its list of sanctioned entities due to concerns over crypto being used to fund North Korea's nuclear program. Senator Warren has been a vocal advocate for cracking down on the illicit use of cryptocurrencies.

The South Korean government has sought advice from cryptocurrency companies to crack down on cryptocurrency crimes in North Korea. North Korea is accused of stealing $700 million worth of crypto assets to use in weapons programs such as its nuclear missile program.

June 23 (Cointime) - The Financial Action Task Force (FATF) has stated that most jurisdictions are not fully complying with international anti-money laundering norms for cryptocurrency. The watchdog's statement following a plenary meeting chaired by Singapore's T. Raja Kumar revealed that almost three quarters of jurisdictions are only partially compliant or not compliant with the FATF's requirements for virtual assets.

North Korea has allegedly used cybercriminals to accumulate more than $3 billion in cryptocurrency over the past five years, with the stolen funds believed to finance around half of the country's nuclear program. The hackers impersonate tech workers or job recruiters and target blockchain gaming firms, with one heist reportedly netting over $600 million.

According to U.S. officials, North Korea has created a shadow workforce of IT workers who are involved in cybercrime operations and carry out large-scale crypto hacks.

The funds obtained from the $35 million Atomic Wallet hack are being transferred to a crypto mixer that is favored by North Korea's notorious cyber-hacking group, according to blockchain compliance analytics firm Elliptic. The firm's Investigations Team has traced the funds to the crypto mixer Sinbad.io, which has previously been used to launder over $100 million in crypto assets stolen by North Korea's Lazarus Group.