North Korea stole at least $2.8B in crypto since January 2024: RUSI

North Korea has stolen at least $2.8 billion in cryptocurrency since January 2024, and tracking the funds has become more difficult as the assets are laundered alongside investment scam proceeds and organized crime money, Decrypt reported, citing a report by the Royal United Services Institute. According to RUSI, North Korea stole at least $2.8 billion worth of cryptocurrency between January 2024 and September 2025. In some cases during the cash-out process, third parties bought entire batches of stolen assets at a discount. Once transferred, the funds were mixed with scam proceeds or money tied to addresses linked to criminal groups, making them even harder to trace. After the Bybit hack in February last year, launderers with Chinese roots, over-the-counter trading firms and peer-to-peer traders were mobilized, the report said. RUSI found signs that stablecoins were sold in roughly $7,000 increments, while larger sums were split into $30,000 tranches before being cashed out.