Hackers in North Korea: Reduced Theft despite Increased Breaches
According to a new report from blockchain analytics company Chainalysis, hacking groups associated with the Democratic People’s Republic of Korea (DPRK) managed to steal less cryptocurrency in 2023 compared to the previous year. Despite increasing their efforts and diversifying their targets, the value of the stolen crypto decreased from $1.7 billion in 2022 to approximately $1 billion in 2023. Despite the decrease in stolen funds, Chainalysis Vice President of Investigations Erin Plante predicts that North Korean hackers will continue to enhance their techniques and target a wider range of services.
While the hackers previously focused on decentralized finance (DeFi) platforms, security improvements in these protocols led them to shift their attention to centralized services and wallets. In 2023, DPRK-linked hackers utilized phishing and social engineering tactics, which are traditional hacking methods. Plante emphasizes the importance of employee education and awareness in preventing these types of attacks. She advises organizations to prioritize general security practices and ensure that all employees are knowledgeable about cyber defenses.
Additionally, Plante highlights a pattern observed in DPRK-linked attacks where the hackers spend a longer duration within the targeted networks. This emphasizes the need for enhanced network monitoring and security measures. Plante recommends that DeFi platforms vulnerable to on-chain failures implement systems to monitor on-chain activities, while those at risk of off-chain threats should reduce their reliance on centralized products and services.
Looking ahead, Plante predicts that North Korean hackers will persistently seek opportunities to steal significant amounts of funds, describing them as an “advanced foe” due to their ability to adapt quickly to changing circumstances. As a result, organizations must remain vigilant and stay updated on evolving cybersecurity strategies to effectively combat these threats.
4 thoughts on “Hackers in North Korea: Reduced Theft despite Increased Breaches”
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Monitoring on-chain activities and reducing reliance on centralized services can be effective countermeasures. Let’s minimize vulnerabilities in our systems.
It’s disheartening to see how difficult it is to stop these hackers. We need a comprehensive solution to protect our funds from their relentless attacks.
Employee education plays a crucial role in preventing phishing and social engineering attacks. Let’s ensure everyone in the organization is well-informed.
Kudos to the organizations that have implemented improved security measures, forcing the hackers to shift their tactics. Let’s keep up the good fight! 💪🔐👍