North Korea’s Cryptocurrency Car Theft: $2 Billion Stolen with Finesse 🚗💰

by

North Korea-linked hackers stole over $2 billion in crypto this year alone, using fewer attacks with far larger losses.

North Korea’s exploits reached a new high this year. Data from Chainalysis shows a rise in stolen value, even as the number of attacks fell. Imagine that! More money, fewer parties. Efficiency, people! 🤷

While over $3.4 billion was stolen this year, North Korean hackers were responsible for around $2 billion. That’s like a library fines system for the global economy. “You owe us $2 billion for borrowing the universe.” 📚💸

This trend indicates how threat actors are now focusing on fewer but far larger targets. Because why rob a few wallets when you can rob a wallet the size of a small country? 🏰

North Korea Crypto Theft Pushes Total Losses Higher

According to Chainalysis, hackers from North Korea stole about $2.02 billion. That’s a 51% increase from last year. If they keep this up, they’ll be the world’s most successful charity in 2025. 🎉

Attack frequency dropped, yet the stolen value surged. This change came from a handful of very large hacks, with the February attack on Bybit alone accounting for $1.5 billion. That’s enough to fund a really enthusiastic rocket to Mars. 🚀

Service providers also faced the biggest losses as centralised platforms saw rare but massive private key compromises that erased large sums in minutes. It’s like burning a library with a magnifying glass and a sense of humor. 🔥

According to Chainalysis, over $3.4 billion in crypto vanished across the industry by early December and North Korea-linked actors caused most of the damage. “We’re just tidying up the financial ecosystem.” 🧹

Fewer Attacks Deliver Far Greater Returns

Data from the hacks show that there is a growing gap between average losses and extreme cases. This year alone, the largest hack exceeded the median incident by more than 1,000 times. That’s not a gap-it’s a canyon with a toll booth. 🌄

This is also the first time the gap crossed that level. Innovation! 🎯

Chainalysis also notes that only three attacks caused 69% of all service losses. This concentration shows how single breaches now define yearly outcomes. It’s like one bad day at the office for everyone else. 🏢

In all, smaller incidents still happen but they barely move totals. Because nothing says “chaos” like pocket change. 🤑

North Korea reportedly stole the most from 2022 to date, with these attacks clustered at the highest value ranges. Other criminals also showed a wider spread of smaller thefts. “We’re the Michelin-starred hackers. You’re the takeout.” 🍽️

Laundering Patterns After Major Thefts

Chainalysis also called attention to clear laundering habits from North Korean hackers. According to the analytics platform, hackers rarely move stolen funds in huge chunks and tend to keep transfers below $500,000. It’s like washing a whale in a bathtub. 🐋🛁

Other criminals often move funds in larger batches and this contrast helps analysts spot patterns. “Ah, the art of subtlety! Or is it just poor planning?” 🤔

They also reportedly used cross-chain bridges heavily, including Celer and Stargate to help move assets across networks. Because why not build a bridge to Mars if you’re already robbing it? 🌌

North Korea-linked actors also tend to avoid lending protocols and peer-to-peer exchanges. They also interact less with decentralised exchanges than other groups. “We prefer the classic heist: no witnesses, no questions, no thank-yous.” 🚪

Related Reading: Pakistani Authorities Arrest 34 in Major Crypto Scam Crackdown

Personal Wallet Theft Hits More Users

Thefts from North Korea now dominate headlines, yet individual users also face heavy risk. Wallet compromises reached about 158,000 incidents and that figure nearly tripled the counts from 2022. That’s 158,000 reasons to double-check your password. 🔐

Unique victims climbed to at least 80,000 and adoption growth partly explains the rise. Despite higher counts, total value stolen from individuals fell to $713 million. That amount dropped from $1.5 billion the year before and attackers may have targeted more users but took less per person. “Quality over quantity, my dear Watson!” 🕵️

Solana recorded the highest number of victims (around 26,500) while Ethereum and Tron showed the highest theft rates per active wallet. “Congratulations, you’ve been selected for our loyalty program… of regret.” 😅

Overall, this year’s thefts show that hackers have developed patience and planning. Fewer attacks caused record losses and that approach may continue. Because why rush when you can wait for the perfect moment to vanish with everyone’s savings? ⏳

This all means that crypto crime did not disappear. Instead, its shape changed and those changes might offer clues for prevention. Or maybe it’s just a reminder that we’re all playing chess with invisible pieces. ♟️

Read More

2025-12-29 17:19