Crypto 24X7 News Hubb
Advertisement
  • Home
  • Crypto Currency
  • Bitcoin
  • Ethereum
  • Crypto Mining
  • Contact us
No Result
View All Result
  • Home
  • Crypto Currency
  • Bitcoin
  • Ethereum
  • Crypto Mining
  • Contact us
No Result
View All Result
Crypto 24X7 News Hubb
No Result
View All Result
Home Crypto Mining

In 2022, North Korean Hackers Stole Billions Worth of Crypto

admin by admin
February 7, 2023
in Crypto Mining


In 2022, North Korea-linked hackers stole crypto worth between $1 and $2 billion.

The United Nations, an intergovernmental organization whose purpose is to maintain international peace and security, has issued a confidential report noting that 2022 was a record-breaking year for North Korea-related hackers.

According to the Reuters report shared on February 7th, in 2022, North Korean hackers stole more cryptocurrency assets than any other year before.

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe – We publish new crypto explainer videos every week!

In particular, South Korea estimated that in 2022, North Korean-related hackers stole crypto worth over $630 million. On top of that, an undisclosed cybersecurity firm claimed that “North Korean cybercrime yielded cyber currencies worth more than $1 billion.” Regarding the matter, the UN report stated:

The variation in USD value of cryptocurrency in recent months is likely to have affected these estimates, but both show that 2022 was a record-breaking year for DPRK (North Korea) virtual asset theft.

The United Nations is not the only institution claiming that 2022 was a record-breaking year for North Korean hackers. On February 1st, blockchain analytics firm Chainalysis revealed that North Koreans stole at least $1.7 billion worth of crypto.

Compared to 2021, the amount grew by 285%. In 2021, North Korean hackers managed to steal around $430 million.

According to Chainalysis, North Korea-linked hackers stole at least $1.1 billion of crypto from decentralized finance (DeFi) protocols. 

On top of that, hackers were actively using crypto mixers to hide their traces. Chainalysis noted:

In fact, funds from hacks carried out by North Korea-linked hackers move to mixers at a much higher rate than funds stolen by other individuals or groups.

The majority of funds were moved to crypto mixers like Tornado Cash and Sinbad. Chainalysis claims that “cryptocurrency hacking is a sizable chunk of the nation’s economy.”

The country denies that it is involved in any cyberattacks against crypto-related firms. However, it is worth noting that the United Nations believes that North Korea’s intelligence bureau, known as the Reconnaissance General Bureau, is working with Lazarus Group, Kimusky, and Andariel to attack various firms.

Gile K. - Crypto Analyst

by Gile K. – Crypto Analyst, BitDegree




Source link

Previous Post

Digital Currency Group And Genesis Reach Restructuring Agreement With Creditors

Next Post

Investment Manager Predicts Gold Could Hit $3,000 This Year – Markets and Prices Bitcoin News

Next Post

Investment Manager Predicts Gold Could Hit $3,000 This Year – Markets and Prices Bitcoin News

Recommended

SBF signs extradition papers, set to return to face charges in the US

December 21, 2022

Crypto.com to Trim Staff to Weather Industry Challenges

January 13, 2023

Don't miss it

Crypto Mining

New Texas Resolution Aims to Protect Bitcoin Mining

March 22, 2023
Crypto Currency

Wasabi Wallet Releases Version 2.0.3, Adding Back Coin Control Amongst Other Updates

March 22, 2023
Ethereum

Bitcoin’s banking crisis surge will ‘attract more institutions’: ARK’s Cathie Wood

March 22, 2023
Crypto Currency

Core Scientific to Send $20M Worth of Mining Equipment to Settle Payment Dispute

March 22, 2023
Crypto Currency

‘Operation Choke Point 2.0’ may have contributed to SVB collapse: Mulvaney

March 22, 2023
Bitcoin

Yellen Says US Could Back All Deposits at Smaller Banks if Needed to Prevent Contagion – Finance Bitcoin News

March 22, 2023

© 2022 Crypto 24X7 News Hubb All rights reserved.

Use of these names, logos, and brands does not imply endorsement unless specified. By using this site, you agree to the Privacy Policy and Terms & Conditions.

Navigate Site

  • Home
  • Crypto Currency
  • Bitcoin
  • Ethereum
  • Crypto Mining
  • Contact us

Newsletter Sign Up

No Result
View All Result
  • Home
  • Crypto Currency
  • Bitcoin
  • Ethereum
  • Crypto Mining
  • Contact us

© 2022 Crypto 24X7 News Hubb All rights reserved.