A study by Recorded Future's Insikt Group shows North Korean cybercriminals pose a growing threat to the global cryptocurrency industry.

North Korea has accumulated over $3 billion in stolen cryptocurrency in the past five years, half of which was stolen in 2022.

The stolen funds are likely used to support North Korea's military and weapons programs.

North Korean cyber actors engage in theft and money-laundering, targeting various entities within the cryptocurrency industry.

Without stricter regulations and increased cybersecurity, North Korea is predicted to continue exploiting the industry.

The report provides mitigation strategies for individuals and companies in the cryptocurrency sector, stressing the importance of awareness of this threat.

One tactic used by North Korean hackers, known as the Lazarus Group, is phishing attacks on Telegram.

The US has traced several crypto breaches to North Korea-affiliated hackers, estimating that over $3 billion has been stolen by them in the past five years.

South Korean intelligence reported a theft of $1.2 billion in BTC and ETH by North Korea in 2022.