Microsoft’s 2021 Digital Defense Report identifies North Korea as one of the largest sources of observed nation-state attack volume after Russia, alongside Iran and China. The DPRK-relevant finding is that North Korean activity targeted cryptocurrency companies for profit as sanctions and COVID-19 pressure affected the country’s economy. The broader report frames this activity within Microsoft’s observations of nation-state targeting, where most attacks hit enterprise victims and sectors such as government, NGOs, think tanks and education. For Lazarus Day tracking, the source is useful as a high-level industry assessment of North Korea’s financially motivated cyber operations rather than a technical malware or IOC report.