North Korean Hackers Steal $1.34 Billion in 47 Crypto Attacks, Prompting U.S. and South Korea to Collaborate on Security

Dec 23, 2024, 02:32 PM

North Korean hackers have escalated their cryptocurrency theft operations in 2024, stealing a record $1.34 billion across 47 cyberattacks, according to blockchain analysis firm Chainalysis. This represents a 103% increase from the previous year and accounts for 61% of all crypto stolen this year. The surge in hacking incidents has prompted South Korea and the U.S. to collaborate on research aimed at tracking stolen cryptocurrencies, securing exchanges, and preventing future attacks. The partnership will continue through 2026. Amid these developments, concerns have arisen over potential vulnerabilities in the Hyperliquid trading platform, with reports of North Korean hackers incurring losses while testing the system. Hyperliquid Labs has denied any exploit, asserting that all user funds are accounted for. However, the platform's native token, HYPE, experienced a significant 21% drop in value, and the platform saw a record $211 million in USDC outflows amid fears of a looming North Korean hack.