WazirX Hack: US, Japan, South Korea Blames North Korea for $235 Mn Crypto Theft; CEO Warns

The United States, Japan, and South Korea have jointly blamed North Korea for the $235 million hack on the Indian cryptocurrency exchange WazirX, the trio said in a joint official statement on Tuesday. They attributed the WazirX hack to the Democratic People’s Republic of Korea (DPRK).

“In 2024 alone, our governments have individually and jointly attributed multiple thefts, denominated in virtual asset value in US dollars, to the DPRK… The United States and Republic of Korea additionally attribute to the DPRK, based on detailed industry analysis, thefts last year against WazirX for $235 Mn and Radiant Capital for $50 Mn,” the statement read.

They accused the DPRK of targeting financial institutions and cryptocurrency exchanges to evade sanctions and fund its weapon programmes. The trio further highlighted the urgent need of addressing such cyber threats, while requesting global stakeholders to strengthen cybersecurity measures and prevent such thefts.

North Korea’s Lazarus Group, known for its cyber warfare tactics, launched the attack and reportedly steal $235 million worth of cryptocurrency in December 2024. The group has also been linked with numerous high-profile global cyberattacks, often aimed at supporting North Korea’s sanctioned regime.

The assets were 45 per cent of the total user funds on the platform. The company after its breach, reportedly suspended its withdrawals and filed an FIR in connection with the cyberattack.

Also Read | WazirX Submits Moratorium Application to Singapore Court After $230 Crypto Heist: Report

What Does WazirX Founder Say?

WazirX founder and CEO Nischal Shetty, in a post on X (formerly Twitter), reacted to the announcement and urged global stakeholders for a swift action to recover the stolen assets. “This is a critical moment. We urge swift international action and support to recover the stolen assets. Rest assured, we will leave no stone unturned in our pursuit of justice,” he said.

“Joint statement from the United States, Japan, and South Korea addressing the alarming cyberattacks by DPRK cyber actors, including the WazirX hack. Joint statement from the United States, Japan, and South Korea addressing the alarming cyberattacks by DPRK cyber actors, including the WazirX hack,” he added.

Currently, the WazirX team is reportedly working with law enforcement agencies, global cybersecurity experts, and blockchain analytics firms to restore stolen assets. The incident has again sparked discussions about cybersecurity in the cryptocurrency sector, specifically in India, due to the country's ongoing digital transformation.