North Korean Hackers Steal $200 Million from WazirX in Latest Crypto Heist:

On July 18 at 11:49 a.m., North Korean hackers breached India’s leading cryptocurrency platform, WazirX, executing a cyber heist worth over $200 million, according to a Wall Street Journal report. This event marks a significant episode in what has become a global, decade-spanning digital crime spree orchestrated by Pyongyang’s elite cyber units.

Decade of Cybercrime: North Korea Leads Global Crypto Thefts

Over the last ten years, North Korea has stolen more than $6 billion in digital assets, cementing its place as the most prolific cybercriminal state. In 2024 alone, the regime was linked to over 60% of global crypto-related theft, funneling stolen assets into its sanctioned economy and nuclear weapons program.

How the WazirX Hack Unfolded

The attack was meticulously timed. As WazirX staff were performing a routine crypto transfer—moving $625,000 from a cold to a hot wallet—hackers took control. In under an hour, more than 400 transactions were executed, swiftly laundering over $200 million through token swaps, crypto mixers, and obscure digital currencies like Ether and Tether. To date, only $3 million has been successfully frozen.

Social Engineering and Military Discipline: North Korea's Cyber Tactics

North Korean hackers employ advanced social engineering, often impersonating recruiters or IT staff to infiltrate systems. The regime's cyber division operates like a military force, with over 8,000 trained hackers, some even working remotely for U.S. companies under stolen identities.

The long-term play includes lying low and laundering stolen assets over months or years. With minimal diplomatic repercussions, cybercrime is now a core financial strategy for the regime.

Crypto: A Vital Revenue Stream for Pyongyang

As global sanctions dry up traditional income sources, North Korea’s digital thefts provide essential funding. The regime now targets crypto ETFs and large financial firms, including BlackRock and Fidelity, prompting warnings from the FBI.

In a related case, 14 North Korean nationals were charged with identity theft and remote employment fraud, pocketing $88 million in unauthorized payments.

Aftermath: WazirX Struggles to Recover

WazirX operations are currently suspended as the platform scrambles to retrieve lost funds and restore user trust. The hack highlights critical vulnerabilities in crypto infrastructure and demonstrates how state-sponsored cyber warfare has evolved into a silent but impactful digital battleground.