North Korean Hackers Swipe $180M in H1 2023 Crypto Heist

In the first half of 2023, hackers from North Korea collected $180 million illegally using crypto hacks, according to South Korean investigators.

Even though actions were taken to stop them, North Korea continues to be active in committing cyber crimes involving this kind of digital money. 

The South Korean intelligence agency shared this news in a recent meeting with the media, and a local news outlet called Asia Today.

Since 2015, North Korea has unlawfully taken over $1.5 billion worth of virtual assets. The South Korean National Intelligence Service (NIS) has estimated that in just the first half of this year, it was connected to hacking situations amounting to over $180 million.

A hacking team known as the Lazarus Group, coming from North Korea, is strongly suspected of being involved in numerous hacks related to cryptocurrencies.

CoinsPaid, a company associated with the crypto payment processing service Alphapo, recently disclosed that it fell victim to a cyberattack, leading to a substantial loss of $37 million. The suspicion is that the Lazarus Group is behind this attack.

The U.S. government has pointed to Lazarus as the main group behind the $600 million breach of the Ronin blockchain, which can be considered the base of Axie Infinity game where you can earn while playing. This group has a past of taking people’s cryptocurrency for many years.

Also Read: North Korean Hackers Drained Japan’s Crypto Reserve: $721M Gone