North Korean Hackers Make Off with Record $2 Billion in Cryptocurrency Heists

North Korean Hackers Steal Record Sums, Researchers Say In a significant escalation of cybercrime, researchers have revealed that North Korean hackers have stolen more than $2 billion from cryptocurrency holders this year alone. The record-breaking thefts are attributed to the regime-linked Lazarus Group and other hacking teams, which have been targeting high-net-worth individuals in the crypto space. According to Dr. Tom Robinson, chief scientist at Elliptic, a research firm specializing in cryptocurrency investigations, the hackers' focus on individual targets has led to a significant increase in unreported thefts. "The targeting of individuals is less likely to be disclosed, which means the true figure for hacks carried out by North Korea could be even higher," Dr. Robinson said. The Lazarus Group and other North Korean hacking teams have been active in the cryptocurrency space for several years, with a focus on attacking companies for large-scale thefts of digital tokens. However, researchers now warn that wealthy individuals are increasingly being targeted due to their lack of robust security measures. Western security agencies have long suspected that stolen funds from these hacks are used to finance North Korea's nuclear weapons and missile development programs. The United Nations estimates that hacking operations account for around 13% of North Korea's gross domestic product (GDP). The rise in individual targeting has significant implications for the cryptocurrency community, which is still grappling with the complexities of security and regulation. "This trend highlights the need for improved security measures among individual crypto holders," said Dr. Robinson. Researchers at Elliptic warn that attributing cyber thefts to North Korea can be challenging due to the sophisticated nature of these operations. However, they emphasize that the evidence points to a coordinated effort by the regime-linked hackers. As the cryptocurrency market continues to grow, experts predict that the threat from North Korean hackers will only intensify. "We expect to see more sophisticated attacks on individual targets in the coming months," Dr. Robinson said. The international community is urging governments and regulatory bodies to take action against these hacking operations, which are seen as a major threat to global security and financial stability. *Reporting by Bbc.*