Online groups linked to North Korea stole around $1.34 billion this year through cryptocurrency hacking. The total value of the thefts in 47 incidents so far in 2024 is more than double the amount stolen last year, according to data from Chainalysis, a blockchain research group.

Now, two-thirds of global cryptocurrency thefts are carried out by North Korea. North Koreans have become “the top bank robbers in the world” in recent years, according to U.S. officials, having developed a “military” of highly trained hackers targeting Western financial institutions for decades.

According to the Financial Times, a UN expert group monitoring the implementation of international sanctions found that North Korea uses the money collected from cybercrime activities to fund its illegal ballistic missile and nuclear programs. The U.S. estimates that one-third of North Korea’s missile program is funded by cybercrime.

“North Korea has long been trying to evade international sanctions to support its weapons of mass destruction and ballistic missile programs,” said Andrew Firman, head of national security intelligence at Chainalysis.