North Korean Hackers Responsible for Over $1.3 Billion in Crypto Theft in 2024, Report Reveals

N Korea hackers stole $1.3bn of crypto

North Korean hackers have stolen more than $1.3 billion worth of cryptocurrencies in 2024, accounting for over half of the total $2.2 billion in digital assets stolen this year, according to a new report by Chainalysis. This marks a significant increase compared to last year’s thefts, more than doubling the amount taken by North Korean-affiliated hackers.

The study suggests that some of these thefts are linked to cybercriminals posing as remote IT workers, infiltrating cryptocurrency and technology companies. This rise in stolen crypto comes as Bitcoin’s price has more than doubled this year, spurred by speculation around the more crypto-friendly stance of incoming U.S. President Donald Trump compared to his predecessor, Joe Biden.

While the total amount of crypto stolen in 2024 increased by 21% from 2023, it remained lower than levels seen in 2021 and 2022. The report stresses the need for the crypto industry to address a growing and complex threat landscape, particularly concerning the compromise of private keys—essential for accessing user assets on crypto platforms.

Notable incidents this year include the theft of $300 million in Bitcoin from Japanese exchange DMM Bitcoin and the loss of nearly $235 million from WazirX, an Indian crypto exchange.

The U.S. government has long accused North Korea of using cryptocurrency theft to bypass international sanctions and fund its weapons programs. Last week, a federal court in St. Louis indicted 14 North Koreans for their involvement in a scheme to extort funds from U.S. companies, further fueling concerns over North Korea’s cybercriminal activities. The U.S. State Department has also offered a reward of up to $5 million for information on the alleged cybercrimes.