In a rare joint statement, Japan, South Korea, and the United States have confirmed that North Korea-backed hackers stole at least $659 million in cryptocurrency through multiple heists in 2024. The announcement marks the first official confirmation of North Korea's involvement in several high-profile attacks, including the $235 million hack of India's largest cryptocurrency exchange, WazirX, in July.

The joint statement, released on Tuesday, attributed the attacks to the Lazarus Group, a known threat group of North Korean hackers. The group employed social engineering tactics and deployed cryptocurrency-stealing malware, such as TraderTraitor, to breach exchanges. Additionally, the hackers infiltrated companies by posing as job candidates, with North Korean IT workers working as insider threats.

The attacks listed in the joint statement include the $308 million theft from Japan's DMM Bitcoin, $50 million each from Upbit and Radiant Capital, and $16.13 million from Rain Management. These heists are part of a larger trend, with recent data from Chainalysis showing that North Korean hackers were responsible for 61% of all cryptocurrency stolen in 2024, totaling $1.34 billion.

The joint statement serves as a warning to private sector entities, particularly in the blockchain and freelance work industries, to review the advisories and announcements to better inform cyber threat mitigation measures. The governments urged companies to be cautious of inadvertently hiring North Korean IT workers, who may pose as insider threats.

This is not the first time North Korea has been linked to cryptocurrency theft. Earlier U.N. reports estimated that the country stole $3 billion in cryptocurrency between 2017 and 2023 to fund its sanctioned nuclear weapons programs. The latest joint statement confirms that North Korea's cryptocurrency theft activities continue to be a significant concern for the global community.

The revelation highlights the need for increased vigilance and cooperation among governments and private sector entities to combat cyber threats. As the cryptocurrency market continues to grow, it is essential to develop robust security measures to prevent such attacks and protect investors' assets.

The joint statement is a significant step in this direction, as it demonstrates a united front against North Korea's malicious activities. However, it also underscores the need for sustained efforts to address the root causes of these attacks and to develop effective strategies to prevent future incidents.

As the cryptocurrency landscape continues to evolve, it is crucial to prioritize security and transparency. The joint statement serves as a wake-up call for the industry, emphasizing the importance of robust security measures, thorough background checks, and international cooperation to combat cyber threats.