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Long cons, fake assets, and false data: How North Korean-backed hackers stole $600m

North Korean propaganda poster
Photo: Getty Images

Extraordinary tale of two hacks raises many security questions for crypto industry.

Crypto hack losses totaling $600m in 2026 have been attributed to North Korean state-backed hackers in a new report from blockchain intelligence firm TRMLabs. That total amounts to 76% of global losses from crypto hacks – and resulted from just two attacks.

Increasingly sophisticated hacking operations include unprecedented in-person social engineering campaigns. It’s