The United Nations (UN) is presently investigating hacking activities associated with North Korea, with its findings expected to be released in the forthcoming weeks. The inquiry focuses on cyberattacks conducted by entities linked to the Democratic People’s Republic of Korea (DPRK) between 2017 and 2023, specifically targeting cryptocurrency companies and resulting in estimated gains of $3 billion.

Citing unreleased UN documents, Reuters reports that an independent sanctions committee is spearheading the investigation into these suspected DPRK-backed hacking entities. Allegedly, approximately 58 cryptocurrency firms were exploited as part of DPRK's efforts to finance their strategies for developing weapons of mass destruction (WMDs).

In recent times, DPRK-affiliated hacking groups have garnered increased global attention for their alleged involvement in significant cryptocurrency thefts. Data from Chainalysis suggests that these groups may have stolen approximately $1 billion through 20 separate hacks in 2023. This marks a slight decrease from the losses incurred in 2022, totaling $1.7 billion from 15 hacking incidents.

However, the risks within the Decentralized Finance (DeFi) sector are multifaceted and sophisticated, with hackers exploiting both on-chain and off-chain vulnerabilities. In 2023, experts estimated that DPRK-linked hackers pilfered just over $1 billion in cryptocurrency assets. Notably, the number of documented hacking incidents surged to 20 during this period.

TRM Labs, a blockchain data company, forecasts that hacking groups, as they continually refine their techniques, may cause even greater disruptions in the coming year, despite increased international collaboration in tracing and recovering stolen assets.

Meanwhile, the United Nations Office on Drugs and Crime has issued a warning regarding the misuse of cryptocurrency in burgeoning illicit economies across East and Southeast Asia. It underscores the growing concern over unregulated casinos and elaborate romance scams in the Mekong region.