North Korea Has Stolen Billions in Crypto, But the Ability to 'Fight Back Is Growing'

A recent report highlights North Korea's increasing sophistication in crypto-hacking, revealing that the country has stolen $2.84 billion in cryptocurrency since January 2024, with at least $1.65 billion taken from January to September of this year. The Multilateral Sanctions Monitoring Team (MSMT) notes that North Korea's hacking is bolstered by a network of IT workers abroad, flouting UN sanctions by operating in countries like China and Russia. While the DPRK poses a significant threat, experts claim that Western law enforcement and private sectors are improving their capabilities to counter these attacks. Notably, recovery efforts following the Bybit exchange hack in February 2025 resulted in tens of millions of stolen funds being traced, illustrating growing effectiveness in tracking and reclaiming cyber crime proceeds. Analysts stress the importance of collaboration between public and private sectors to thwart North Korean cyber activities, advocating for enhanced data-sharing, real-time security solutions, and proactive monitoring of blockchain transactions to safeguard against further cyber threats.

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