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2023-11-01 • INSS • Evolving North Korean cyberattacks and response measures •
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The INSS issue brief describes North Korea adapting cyber operations after a decline from the record cryptocurrency theft volumes seen in 2022. The source says global cryptocurrency attacks increased through the second quarter of 2023, estimates that North Korea accounted for nearly 30 percent of that activity, and cites roughly 340 million dollars in stolen cryptocurrency through the third quarter. It attributes reduced revenue to cryptocurrency price drops, stronger monitoring and sanctions, and laundering friction, while noting that North Korea diversified toward ransomware, used Russian cryptocurrency exchanges for laundering, and strengthened cooperation among existing hacking groups. Defensive relevance centers on sanctions, information sharing, anti-money-laundering controls, asset recovery, and counter-hacking capabilities.