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April’s Crypto Carnage: North Korea Hit Twice And Snagged 76% Of 2026 Hack Value
TL;DR
North Korean hacking groups accounted for 76% of crypto hack losses in 2026, primarily due to two major incidents totaling $577 million. The Drift Protocol hack on April 1 and the KelpDAO bridge exploit on April 18 were the key events driving these losses.
Key points
- North Korean hacking groups stole 76% of crypto hack value in 2026
- Two incidents accounted for $577 million in losses
- Drift Protocol hack stole $285 million on April 1
- KelpDAO bridge exploit resulted in $292 million in losses on April 18
- These hacks represented only 3% of total crypto incidents
A new crypto crime report by TRM Labs paints a stark picture of how North Korean hacking groups have been operating in 2026 so far. Through April, they were responsible for 76% of all losses tied to crypto hacks, but the report emphasizes that this outcome wasn’t driven by a steady stream of attacks.
Instead, the massive share of stolen value comes down to just two incidents whose combined haul—about $577 million—far outweighed everything else that year.
Two Crypto Hacks, Nearly $600M Stolen
The first breach highlighted by TRM Labs took place on April 1: the Drift Protocol hack. The report puts the value stolen at $285 million. The second incident followed on April 18, when the KelpDAO bridge exploit reportedly resulted in $292 million in losses.
What’s striking is that these two events account for only about 3% of the total number of crypto incidents in 2026 during that period.
Yet together, they represent 76% of the stolen value, underlining a pattern the report says has defined North Korea’s approach across most years since 2017—relatively few attacks, but extremely outsized payouts.
The daily chart shows the total crypto market cap at $2.5 trillion. Source: TOTAL on TradingView.com
The report also charts how North Korea’s share of crypto hack losses has grown over time. It notes that the figure was under 10% in 2020 and 2021, then rose to 22% in 2022, 37% in 2023, 39% in 2024, and 64% in 2025.
The 76% figure through April 2026 is described as the highest sustained share on record, suggesting that the pattern seen in recent years is not just continuing, but accelerating.
April Sets New Record Of Incidents
TRM Labs details how the Drift Protocol hack was carried out, focusing on the time and preparation that preceded the actual drain. The crypto hack involved about three weeks of pre-attack staging.
It also included months of social engineering intended to compromise protocol signers. Once the attackers were in position, the full drain reportedly took place in roughly 12 minutes, showing how planning can turn into rapid theft at the moment of execution.
Q&A
What were the two major crypto hacks by North Korea in 2026?
The two major hacks were the Drift Protocol hack on April 1, which stole $285 million, and the KelpDAO bridge exploit on April 18, resulting in $292 million in losses.
How much of the total crypto hack value in 2026 was attributed to North Korea?
North Korea was responsible for 76% of the total crypto hack value in 2026, amounting to approximately $577 million from just two incidents.
What percentage of crypto incidents in 2026 did the North Korean hacks represent?
The two North Korean hacks accounted for only about 3% of the total number of crypto incidents in 2026 during that period.
