Lens1000
VIP Contributor
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.
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.