March 27, 2023

North Korea- Last year North Korean hackers stole record breaking cryptocurrency, shocking revelation in UN report

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North Korea Has Stolen the Most Cryptocurrency Assets in 2022
North Korea increasingly uses cyber techniques to steal virtual money
The techniques used for North Korea’s cyberthreat are more advanced

Pyongyang: In the report of the United Nations (UN), there has been a surprising disclosure about North Korea. North Korea has stolen the most cryptocurrency assets in 2022 as compared to all previous years, along with targeting the networks of foreign aerospace and defense companies. North Korea has increasingly used cyber techniques to gain access to digital networks and steal information of potentially value, including about its weapons programs.

According to a Reuters report, before 2022, North Korea has always denied allegations of hacking or other cyber attacks. The report also states that South Korea estimates that hackers linked to North Korea may have stolen $630 million in virtual assets in 2022. Variations in the USD value of cryptocurrencies in recent months have affected these estimates. The report revealed that the year 2022 was a record breaking year for theft of virtual assets.

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The techniques used for cyberthreats have become more advanced, so tracking these types of stolen funds has become more difficult, the UN report said. The United States said in April that North Korean hackers were responsible for the theft of hundreds of millions of dollars of cryptocurrency linked to the popular online game Ax Infinity. Ronin, a blockchain network that lets users transfer crypto in and out of games, said about $615 million in digital cash was stolen as of March 2022.

Tags: cryptocurrency, cyber security, hackers, North Korea

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