In 2024, North Korean hackers stole approximately $1.34 billion in cryptocurrency through 47 incidents, marking a significant increase from $660.5 million stolen in 2023. This surge represents 61% of all cryptocurrency thefts this year, according to Chainalysis. The collaboration between North Korea and Russia is said to intensify the hacking threats as they share tools and expertise, complicating response efforts. A notable method employed by these hackers is posing as smart contract developers, embedding vulnerabilities in projects to facilitate attacks. Among the significant thefts was $50 million taken from Radiant Capital, achieved using sophisticated malware that established a permanent backdoor while masquerading as a legitimate PDF to the victim. The stolen cryptocurrencies are reportedly funding North Korea's weapons programs. Experts suggest enhancing international cryptocurrency tracking and enforcing stricter KYC measures as potential solutions to combat this escalating cyber threat.

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