North Korean Hackers Steal $400 Million of Cryptocurrency

North Korean Hackers Steal $400 Million of Cryptocurrency

  • A report by Chainalysis has revealed that North Korean hackers stole $400 worth of cryptocurrency in 2021
  • The total funds were stolen in at least 7 separate attacks on crypto platforms in the last year
  • The attacks majorly targeted investment firms and centralised exchanges and the country has denied involvement in the attacks

Almost $400 million worth of digital currencies were stolen by North Korean hackers in at least 7 separate attacks last year.

This finding was disclosed in a report that was released by Blockchain analysis company, Chainalyis, as it was put on record that cybercriminals from the Asian state had great success in 2021.
According to the report, the attack mainly targeted investment firms and centralised exchanges.
The government of North Korea has denied any involvement in the hacks that were attributed to them.

North Korea hackers
The total number of hacks linked to the east Asian country went up from 4 to 7, from 2020 t0 2021. The value of the money stolen from the hacks also went up by more than 40% within that period.

Read also: Investing in Cryptocurrency: Advantages & Disadvantages (2 Minute Read)

The report disclosed that the hackers employed the use of phishing lures, code exploits, and malware to move funds from the hot wallets of the affected organisations to addresses in North Korea.

investing in cryptocurrency
Chainalysis also claimed that it was likely that many of the 2021 attacks were carried out by the Lazarus Group, a hacking group believed to be affiliated with the country’s primary intelligence bureau.

Follow on our social media handles FacebookInstagram, and Twitter to keep up with trending news, breaking news, entertainment news.

Show More

Related Articles

Back to top button