North Korean hackers reportedly stole $1.2B in crypto since 2017

2022-12-22 19:30

South Korea’s National Intelligence Agency (NIS) reportedly revealed that state-sponsored North Korean hackers stole $1.2 billion worth of crypto assets in the last five and a half years and the country has been using these funds to finance its nuclear missile program.

The NIS estimates that cyber criminals stole half of this amount — roughly $626 million — in 2022 alone. Roughly $78 million of the funds were stolen from South Korea, according to the report.

The missile program

According to the NIS, the Covid-19 pandemic affected North Korea much worse than all other nations in the country since its economy had already been weakened by the United Nations (UN) sanctions. Therefore, the country turned to illicit activities like crypto hacking so that it could provide funds to support its economy as well as its nuclear program.

The conclusion was drawn due to the fact that North Korea carried out a record number of missile tests during 2022 despite its worsening economic condition. According to numbers from November, the country had carried out 34 tests that included 88 missiles in total.

Additionally, the NIS said that it is expecting North Korea to increase its attacks on South Korea in 2023 and focus more on stealing advanced technologies as well as confidential information on South Korea.

An NIS spokesperson said:

“Marking the third year under its five-year economic development plan in 2023, the North is expected to be bent on stealing key technologies, and collecting diplomatic and security intelligence in a bid to meet its policy goals,”

Reportedly, some experts claim that North Korea is looking to leverage its military power to relieve itself from the global sanctions.

North Korean hackers

North Korea’s re-investment of the stolen funds is not news to the world. In February, a report submitted to the UN security council also claimed that the country was using funds stolen via crypto hacks to finance its nuclear missile program.

In March, a cybersecurity company published a report proving that North Korea has been using crypto hackers to raise funds.

Additionally, a Chainalysis report from July revealed that North Korean hackers have significantly improved their activities in the second quarter of 2022.

Quarterly illicit cryptocurrency received by mixers

Other studies have also shown that North Korea is leading in crypto crimes on a global scale, with the infamous Lazarus Group being the most famous one. Lazarus has been targeting crypto firms all over the world and is proven to be responsible for major hacks like the Harmony horizon bridge hack and Axie Infinity’s Ronin Network exploit.

The post North Korean hackers reportedly stole $1.2B in crypto since 2017 appeared first on CryptoSlate.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

North Korean Won (KPW) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 KPW

north crypto korean stole hackers reportedly country

north crypto → Результатов: 126


Фото:

North Korean Crypto Social Media Monitoring on the Rise

Recent reports by the South Korean press warned that North Korea might be expanding its crypto social media monitoring.   Yesterday’s report by NK Economy claims that North Korean firm Marine Chain is actively keeping an eye on leading names in the crypto and blockchain space This would not have mattered for most other companies, but for Marine Chain, it has a particular significance.

2019-12-7 11:47


Фото:

UN Panel: North Korea Hacked $571M From Asian Crypto Exchanges

The U.N. Security Council has heard that North Korea uses cyberattacks and blockchain technology to evade economic sanctions and obtain foreign currency. Through hacking, the reclusive Republic has raked in around $670 million in foreign exchange and cryptocurrency, a panel of experts told the Security Council’s North Korea sanctions committee, ahead of the council’s annual […] The post UN Panel: North Korea Hacked $571M From Asian Crypto Exchanges appeared first on Bitcoin News.

2019-3-9 23:25


Майк Новограц предсказал рост биткоина «через несколько месяцев»

Основатель и CEO инвестиционной компании Galaxy Digital Майк Новограц заявил, что по-прежнему верит в рост биткоина, однако случится это, по его мнению, не ранее чем через несколько месяцев. Об этом он написал в Twitter.

2019-2-3 12:05


Фото:

Top Officials at Two Korean Cryptocurrency Exchanges Face Fraud Indictments

Several of South Korea’s top crypto exchanges have found themselves in hot water, with executives at a couple of exchanges facing criminal charges and jail time. According to a news report on the Korean website Blockinpress, the CEO of Komid, a Korean crypto exchange, has received a three-year prison sentence for committing fraud against investors by artificially inflating the exchange’s actual trading volume.

2019-1-23 00:57


Фото:

Alternative Investment Firm Regal Assets Expands Crypto Reach to Canada

Regal Assets is one of North America’s most trusted alternative investment firms. The company has recently announced it was expanding its service to support Registered Retirement Savings Plan (RRSP) for Tax-Free Savings Account (TFSA) Canadian investors According to reports, Regal Assets, a firm that specializes in offering alternative investment services for retirement account holders, has officially announced it was opening.

2019-1-10 04:00


Фото:

Report: Cryptocurrency Related Lawsuits Skyrocketed in 2018; Up by 300 Percent

In contrast with the bear market we have watched throughout the year it seems that cryptocurrency-related lawsuits have skyrocketed as far up to 300 percent, reports Dior, November 19, 2018. Crypto Lawsuits Go North While bitcoin continues to go south, the business for digital currency focused lawyers looks to have a bright future ahead.

2018-11-23 16:00