In the second half of 2024, North Korean hacker activity slowed down, preparing for the largest crypto attack in history.
Slowdown in North Korean Hacker Activity
According to Chainalysis, illicit activities by North Korean hackers sharply decreased after July 2024, raising concerns among experts. Eric Jardine, Chainalysis cybercrimes research lead, pointed out that the slowdown might have been due to internal political changes in North Korea or preparation for a new attack.
Technical Details of the Bybit Attack
The Bybit attack highlighted the vulnerability of large centralized exchanges to sophisticated cyberattacks. According to Meir Dolev, co-founder and CTO of Cyvers, hackers cracked the exchange's cold Ethereum wallet through deceptive transactions, allowing the attackers to seize the funds.
Scale of North Korea's Crypto Attacks in 2024
In 2024, North Korean hackers stole over $1.34 billion in digital assets, accounting for 61% of the total stolen that year. According to Chainalysis, this is 102% more than the previous year.
The cyberattacks organized by the Lazarus Group highlight a significant threat to the crypto industry. Despite reduced activity, the group remains one of the most dangerous.
