This report suggests that the profitability of these cybercriminals has seen a decline due to the heightened awareness and emphasis on cybersecurity within the cryptocurrency market. As we move into 2023, North Korean hackers have predominantly relied on phishing and social engineering techniques to carry out their cryptocurrency thefts.
According to the experts at Chainalysis, these attackers are primarily targeting centralized platforms and cryptocurrency wallets, spending considerable time scouring networks for vulnerabilities.
To combat this growing threat, Chainalysis has stressed the urgent need for enhanced network monitoring and increased investment in security measures within the cryptocurrency industry. By doing so, the efforts of hackers, including those originating from the DPRK, can be nullified.
In a related revelation, security experts at the Recorded Future platform have disclosed that over the course of six years, North Korean hackers have stolen more cryptocurrency than the entire annual earnings from the country’s export activities.