- MSMT report reveals $2.84 billion theft by North Korean hackers.
- Funds laundered via platforms in Russia, Cambodia, and Hong Kong.
- Hackers use AI tools to enhance attack stealth and impact.
A Multilateral Sanctions Monitoring Team report reveals North Korean hackers stole $2.84 billion in cryptocurrencies from January 2024 to September 2025, laundering funds via Russian and Cambodian intermediaries.
The extensive crypto theft fuels North Korea’s missile programs, complicating international relations and influencing global crypto market stability as exchanges scrutinize security measures.
The Multilateral Sanctions Monitoring Team (MSMT) report identifies North Korean state-affiliated hackers
The Multilateral Sanctions Monitoring Team (MSMT) report identifies North Korean state-affiliated hackers responsible for stealing and laundering $2.84 billion in cryptocurrencies globally. From January 2024 to September 2025, these activities were executed in collaboration with intermediaries, largely using systems within Russia, Hong Kong, and Cambodia. The Huione Group division, Huione Payment, was specifically mentioned as a platform utilized to convert crypto assets into fiat currency.
The report indicates that North Korean techniques are becoming increasingly sophisticated, including the use of AI tools to bolster attack stealth. These activities have underscored vulnerabilities in both centralized and decentralized financial systems, influencing international calls for boosted security measures and regulatory frameworks surrounding cryptocurrency exchanges.
The findings have provoked swift international responses. Japan’s Ministry of Foreign Affairs stated their commitment to full implementation of relevant UNSCRs to dismantle North Korean financing avenues. Moreover, experts suggest enhancements in transaction tracing capabilities to mitigate similar future threats.
Global Caution as Crypto Heists Highlight Security Flaws
Did you know? The recent $1.645 billion crypto theft in just nine months is part of a long-term pattern by North Korea, following significant past heists like the 2022 Axie Infinity hack.
Ethereum (ETH) is currently valued at $3,981.67, with a market cap of $480.58 billion and a 24-hour trading volume of $37.85 billion, reflecting an 11.72% decline. In recent movements, ETH experienced a 2.65% rise in the past 24 hours but declined by 4.61% over a month, according to data from CoinMarketCap.
Ethereum(ETH), daily chart, screenshot on CoinMarketCap at 06:30 UTC on October 24, 2025. Source: CoinMarketCapCoincu analysts highlight that North Korea’s activities stress the necessity for fortified security protocols across exchanges and a reevaluation of regulatory practices. Enhanced monitoring and reporting tools are advised to mitigate risk and safeguard against future cyber threats.
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Source: https://coincu.com/news/north-korea-crypto-theft-msmt/


