North Korea’s Crypto Attacks Rise in Sophistication and Number

Cryptocurrency firms are warning about a growing sophistication of North Korean cyberattacks on the industry. A report by crypto firm Paradigm, titled ‘Demystifying the North Korean Threat,’ reveals these attacks are more frequent and involve complex tactics like phishing attempts, supply chain infiltrations, and even lengthy ‘ambushes’ that can take a year to execute. The report also highlights the escalating financial losses from these assaults, with North Korea netting an estimated $3 billion between 2017 and 2023, and an astonishing $1.7 billion in the first half of 2024 alone.