North Korean hackers stole cryptocurrency valued around $400 million.

[Lens1000]

In at least seven significant attacks on crypto sites last year, North Korean hackers stole cryptocurrency valued around $400 million. "Bitcoin accounted for only 20% of the stolen funds... And, for the first time ever, ether accounted for the majority of the funds taken, accounting for 58 percent," according to Chainalysis, a blockchain data analytics business.

On Thursday, Chainalysis, a blockchain analytics company, presented an investigation on North Korean hackers and their unlaundered cryptocurrency holdings. The business described itself as follows:

In 2021, North Korean cybercriminals had a golden year, committing at least seven attacks on cryptocurrency platforms, stealing approximately $400 million in digital assets.

"Investment businesses and centralized exchanges were the primary targets of these attacks," the firm claimed.

To drain payments from organizations' hot wallets into addresses controlled by the Democratic People's Republic of Korea, the hackers "used phishing lures, code exploits, malware, and clever social engineering" (DPRK), Chainalysis was added, with the following explanation:

When North Korea took possession of the funds, they initiated a meticulous laundering operation to conceal and cash them out.

"North Korean hacker activities was on the upswing once again in 2021," according to Chainalysis. From 2020 to 2021, the number of hacks linked to North Korea increased from four to seven, with the value taken from these attacks increasing by 40%."

According to the firm, bitcoin now makes up less than a quarter of the cryptocurrency taken by North Korea.

 

[Deleted member 28127]

All similar operations end up with the recovery of funds from hackers and then police enter them to the prison as there are laws that protect people in case there is a hack or stolen funds means a transaction that you did not initiate by yourself unlike people are thinking. The proof faucetpay recovers hacked funds.

 

[Suba]

This North Korean hacker is not an individual or just a small group but was formed by the North Korean government to hack crypto both on exchanges and crypto wallets, these funds will be used for nuclear manufacture, so maybe only the UN security council can tackle or stop hackers from the Korean government North.

 

[minenovo]

I heard about this some time ago.
I have little doubt that these hackers work for the NK government, especially considering how limited the Internet is for the ordinary citizens of the country.

 

[Lens1000]

This North Korean hacker is not an individual or just a small group but was formed by the North Korean government to hack crypto both on exchanges and crypto wallets, these funds will be used for nuclear manufacture, so maybe only the UN security council can tackle or stop hackers from the Korean government North.

I just can't phantom the major reason why the North Korean government will embark on unlawful act. Harnessing the funds gotten from such medium is nothing to write Home about. Maybe the hackers where targeting very rich investors and well known exchanges. The exchanges, no doubt would affect he finances of the exchange because the amount of funds stollen on each attacks will be a very huge amount of money. I don't know what the government would gain for funding nuclear weapons. It seems the president is really preparing for war and it will be very detrimental if the accumulation of the weapons backfire. The North Korean hackers are the black hat hackers who never returned the funds that was stolen. Stealing $400 Million is a very huge amount of money that could cause the liquidation of the exchange attacked. I wonder the kind of joy he had for perpetrating this dastardly act. The major reasons for the hack is still a mystery. It will be very detrimental if the hackers successfully hack the cryptocurrency in the United States of America. It may result in war because both countries are not in good terms. The president should try to adopt legitimate means to sponsor his quest.

 

[minenovo]

They're heavily sanctioned and they need money, so they steal money in the form of cryptocurrency. It's not right, but I doubt the North Korean government cares much about that.

 

[Lens1000]

They're heavily sanctioned and they need money, so they steal money in the form of cryptocurrency. It's not right, but I doubt the North Korean government cares much about that.

The North Korean government do not care about this they are after the accumulation of the nuclear weapons .I don't really know what caused the sanctions but I know vividly that the North Korean government is planning for the 3rd world war in the offing. This is a very way of Accumulating funds for weapons. I mentioned it in one of my comments that if they steal funds from an American exchange like Coinbase, it will be very detrimental, because the United States government will want to interfere in the whole saga and North Korea will be very adamant and ever ready to start a war with the US. It is high time the world power call the president of North Korea to order. He should know that stealing peoples hard earned money is not proper. Prior to this news , I thought that the North Korea president doesn't like corruption and he is really fighting corruption so heavily. This news came as a bug shock to me. Nevertheless, I know that all his gimmicks will backfire one day. I have lost the trust that I had in the young president. So, it's high time most of the cryptocurrency exchange beef up their security apparatus.