North Korean hackers stole USD 1.3 billion through crypto hacks in 2024: Reports

A new study has shown that North Korean hackers accounted for more than half of the USD 2.2 billion cryptocurrencies stolen in 2024.

Research firm Chainalysis claimed North Korea stole USD 1.3 billion of digital currencies.

Some of the thefts appear to be linked to North Korean hackers posing as remote IT workers to infiltrate crypto and other technology firms, the report was quoted as saying by BBC.

The news of theft of the digital currencies emerged at a time when price of cryptocurrencies more than doubled this year amid reports that US President-elect Donald Trump would be more friendly towards it.

Overall, the amount of cryptocurrency stolen by hackers in 2024 increased by 21 percent from last year but it was still below the levels recorded in 2021 and 2022, the report said as quoted by BBC.

“Given that centralised exchanges manage substantial amounts of user funds, the impact of a private key compromise can be devastating,” the study added.