North Korea-affiliated hackers reportedly stole over $1.34 billion in digital assets throughout 2024, nearly doubling the $660 million taken in 2023. The United States, Japan, and South Korea issued a joint warning on January 14 about the increasing threat from these hackers, who target cryptocurrencies to fund illicit weapons programs. The three governments aim to enhance collaboration between public and private sectors to combat this cybercrime and recover stolen funds. North Korean hackers were connected to high-profile incidents, including a notable hack on the WazirX exchange and multiple attacks yielding profits exceeding $50 million. More than 61% of crypto thefts in 2024 were attributed to North Korea, signaling a shift toward more sophisticated and lucrative cyber exploits. The rise in such criminal activities raises concerns about their impact on the global financial system.

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