North Korean Hackers Steal $1.34B Crypto Across Multiple Companies

North Korean hackers have escalated sophisticated cyber campaigns targeting the cryptocurrency industry, using credible job offers and fake identities to infiltrate companies and steal digital assets. These operatives have established at least 31 fake identities, complete with forged IDs and professional profiles, to secure developer roles at crypto firms, as exemplified by a $680,000 heist on the fan token platform Favrr. Coinbase CEO Brian Armstrong highlighted that North Korean IT workers systematically target their remote workforce, prompting the company to implement strict security protocols including mandatory in-person orientation in the U.S. and enhanced interview verification measures. The Lazarus Group, a North Korean state-sponsored hacking unit, was linked to a $19.5 million crypto exchange hack in the UK in 2024, which led to the collapse and liquidation of the Lykke exchange. These coordinated attacks not only result in significant financial losses but also raise concerns about national security and the use of crypto crime as a geopolitical weapon. Industry experts and investigators continue to expose the depth and scale of North Korea's operations, revealing an increasingly organized and factory-like approach to cyber theft in the blockchain space.