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Ari Redbord, TRM Labs’ global head of policy and government affairs, told Cointelegraph that although the industry’s coordinated response to the attack was unprecedented, “we are only going to see much more of this.”
TRM’s Redbord explained that the Beacon Network, an intelligence-sharing system TRM launched in 2025, allowed companies to coordinate quickly to immobilize the funds before working to seize them.
“Normally I see a few Beacon alerts maybe every day. I’ve seen, I don’t know, hundreds or maybe even a thousand Beacon alerts over the last few days,” he said.
He noted that North Korea’s Oct. 29 theft was equivalent to roughly a third of the country’s GDP and accounted for half of the $12.5 billion stolen by state-backed hackers since 2017.
Redbord argued that stopping such attacks requires offensive action from governments in response to North Korea’s use of hackers operating as an arm of the state.