M-Trends_2023_uI9eSgp.pdf (6 MB)

Mandiant’s M-Trends 2023 is a broad incident-response report, but its DPRK-relevant finding is that North Korea-nexus actors were targeting cryptocurrency for financial gain to support the regime. The excerpt places that activity alongside other geopolitical cyber operations observed in 2022, including Ukraine-related disruption and influence activity. It also notes wider operational trends—greater attacker aggression, heavy use of exploits and phishing, and regional differences in initial access—that provide context for how DPRK financial operations fit into the broader threat landscape.