North Korea-linked Hackers Stole Cryptocurrency Assets

• North Korean hackers stole between $630 million and more than $1 billion in cryptocurrency assets last year, according to a confidential United Nations report.
• The independent sanctions monitor stated that the cybercriminals used increasingly sophisticated techniques to gain access to digital networks involved in cyber finance.
• A report published by the blockchain analytics firm Chainalysis linked North Korean hackers to at least $1.7 billion in stolen cryptocurrency in 2022.

UN Report Details North Korea’s Cybercrime Activity

A confidential United Nations report seen by Reuters on 6 February was reportedly submitted to a 15-member North Korea sanctions committee last week. According to the report, North Korea-linked hackers stole around $630 million – $1 billion in cryptocurrency assets in 2022. The hackers reportedly targeted foreign aerospace and defense companies.

North Korean hackers have stolen more cryptocurrency assets in 2022 than any other year, mentioned the report. The independent sanctions monitor, in its report to the UN Security Council Committee, stated: „[North Korea] used increasingly sophisticated cyber techniques both to gain access to digital networks involved in cyber finance, and to steal information of potential value, including to its weapons programmes,“

Chainalysis Reports Linked North Korean Hackers To At Least $1.7 Billion In Stolen Cryptocurrency

A report published last week by the blockchain analytics firm Chainalysis linked North Korean hackers to at least $1.7 billion in stolen cryptocurrency in 2022—making it a record year for crypto hacking. The firm identified cybercriminal syndicates as being responsible for most of these thefts and said that North Korea’s total exports amounted only up to $142 million—implying that cryptocurrency hacking accounted for a sizable portion of their economy this past year. The report also mentioned that hacks of decentralized finance (DeFi) protocols amounted up towards at least$1.1 billion putting them at the forefront of this DeFi trend which could intensify further into 2022.

North Korean Intelligence Allegedly Behind Cyber Attacks

The company also discovered that North Korean-linked hackers frequently sent colossal sums through mixers like Tornado Cash and Sinbad which was higher than funds usually sent by other individuals or groups out there as well as making sure not get tracked down easily . Though North Korea has often denied being responsible for these recent attacks ,the new UN report claims otherwise stating that their primary intelligence bureau ,the Reconnaissance General Bureau employs several groups such as Kimsuky ,Lazarus Group and Andariel specifically for these attacks .The full detailed version of this reports will be released either this January or early March 2023 .

Conclusion

It is clear from this article that due to their growing sophistication ,North Koreans are able topull off some major heists successfully if not caught right away .Though they still deny any involvement with these crimes but it looks like they are going no where anytime soon with all their efforts put into stealing large amounts of cryptocurrencies from different sources . It is important for people out thereto stay aware about such activities so they can keep themselves safe from any untoward incidents .