North Korean hackers have stolen a staggering $659 million in cryptocurrency assets in 2024, according to a joint advisory issued by the United States, Japan, and South Korea. The warning highlights the ongoing threat posed by North Korean-affiliated cybercrime groups, including the notorious Lazarus hacking group.

These threat actors are targeting “exchanges, digital asset custodians and individual users” through sophisticated social engineering attacks. The advisory cautions that hackers may infiltrate private sector systems by posing as freelance IT workers.

“Our three governments strive together to prevent thefts, including from private industry, by the DPRK and to recover stolen funds with the ultimate goal of denying the DPRK illicit revenue for its unlawful weapons of mass destruction and ballistic missile programs,” the joint statement reads.

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Once inside a system, the hackers deploy malware such as keyloggers and remote access tools to steal login credentials and virtual currency. A 2022 UN report revealed that North Korea uses these stolen funds to finance its missile programs.

The US previously issued guidelines to help identify potential North Korean workers, noting characteristics such as logging in from multiple IP addresses, transferring money to Chinese accounts, requesting crypto payments, and having inconsistent background information.

This latest warning underscores the urgent need for heightened cybersecurity measures in the cryptocurrency industry to combat the persistent threat from North Korean hackers.

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