back to article Crypto klepto North Korea stole $659M over just 5 heists last year

North Korean blockchain bandits stole more than half a billion dollars in cryptocurrency in 2024 alone, the US, Japan, and South Korea say. The sum of stolen assets totaled a little more than $659 million across five major incidents, although just two contributed a large portion of that. The BitcoinDMM crypto exchange was …

  1. Anonymous Coward
    Anonymous Coward

    So, less than honest politicians, $big_corporation and such.

  2. Anonymous Coward
    Anonymous Coward

    The sooner everyone stops pretending crypto is money the better...

  3. Chubango
    Trollface

    Victimless crimes.

    1. simonlb Silver badge
      Stop

      Not really, but some of those hit probably don't want to draw any attention to it as they can't provide satisfactory proof of where the money they 'invested' came from.

      However, give it time and eventually there will be a mega-heist on one of the crypto companies and a pension fund that will have invested massively in it will lose multi-millions of dollars and go bust. All those peoples pensions will go up in smoke, but no-one responsible for 'investing' it in crypto will go to prison.

      1. MachDiamond Silver badge

        "However, give it time and eventually there will be a mega-heist on one of the crypto companies and a pension fund that will have invested massively in it will lose multi-millions of dollars and go bust. All those peoples pensions will go up in smoke"

        FTX? It doesn't have to be a heist in the classic sense. If the exchange is being run by people that don't know what they are doing, things can implode without warning. A bunch of extremely large exchanges have folded taking loads of money with them since crypto first started.

        It's a non-productive asset if you can call it an asset. There are many more better ways to put money to work than betting on something that is more akin to religion than real money.

  4. Burgha2

    Hopefully the state respects the wishes of the typical crypto folk and doesn't get involved in trying to help them.

  5. Anonymous Coward
    Anonymous Coward

    Easy Kim

    Easy go

  6. John Smith 19 Gold badge
    Unhappy

    Keeping the great-and-glorious-leader fed is *not* cheap

    Even after the diet. *

    *I am of course talking about North Korea. Other fat kleptocrats with a massive sense of entitlement are available.

  7. Philo T Farnsworth Silver badge

    Crypto klepto calypso

    Pardon my ignorance but I'm honestly unclear on how stealing crypto benefits North Korea. I assume it does or they wouldn't do it.

    They're still under some of the most strict sanctions in the world so how do they "cash out" their loot? Having a load of Bitwhatzits isn't going to do you much good in the real world.

    Who cashes it out for them? The Russians? The Chinese?

    If it's the Russians, they're still sort of stuck since the Russians are under sanctions as well.

    There has to be some sort of intermediary between North Korea and the outside world of commerce.

    Someone with domain knowledge want to enlighten me?

  8. IGotOut Silver badge

    NK need a better PR company.

    "The Glorious PRK seizes assets used by Drug Dealers, Human Traffickers and Child Abusers! The PRK makes the world a safer place!"

    1. MachDiamond Silver badge

      Re: NK need a better PR company.

      "The Glorious PRK seizes assets used by Drug Dealers, Human Traffickers and Child Abusers! "

      Of course they do. Competition puts a damper on margins.

    2. Benegesserict Cumbersomberbatch Silver badge

      Re: NK need a better PR company.

      The glorious PRK cuts out profiteering capitalist middlemen and deals illegal drugs.

      FTFY.

  9. heyrick Silver badge

    Only $695M?

    Amateurs.

    These two scammed over a third of that amount by themselves - https://www.theregister.com/2024/09/20/us_indicts_two_over_socially/

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