According to the latest report by Chainalysis, despite an increase in their hacking efforts and a wider array of targets, groups affiliated with the Democratic People’s Republic of Korea (DPRK) were able to steal less cryptocurrency in 2023.
In 2022, these hackers managed to steal $1.7 billion worth of crypto through 15 incidents, but in 2023, this number dropped to $1 billion from 20 hacks. This indicates that even with more attempts, the hackers were not able to exceed their previous year’s illicit gains.
The vice president of investigations at Chainalysis, Erin Plante, expects that the sophistication and variety of attacks from North Korean hackers will continue to grow. With advancements in decentralized finance (DeFi) security measures, Plante explains that these hackers have shifted their focus to centralized services and wallets.
The report also highlights that in 2023, DPRK-linked hackers primarily used phishing and social engineering techniques, which can be prevented through proper employee education and awareness.
