North Korean hackers stole $1.2 billion in cryptocurrency over the past five years

North Korean hackers have stolen approximately $1.2 billion in cryptocurrency and other virtual assets over the past five years, with most of that stolen in 2021 alone.

A report good An investigation by South Korea’s National Intelligence Service (NIS) is cited by the Daily Mail. Officials believe North Korea has turned to cybercrime as a source of foreign currency to support its struggling economy and fund its nuclear program following tough UN sanctions and the COVID-19 pandemic. Have turned

Since the tightening of sanctions in 2017, of North Korea Its focus on cybercrime has reportedly made it one of the best in the world at stealing digital assets. NIS estimates North Korean state-sponsored hackers stole around $1.2 billion virtual asset Worldwide since 2017, this year alone includes approximately $626 million.

Of this total, more than $78 million was taken from South Korea. NIS expects North Korean hackers to launch more cyberattacks in the coming year to steal advanced South Korean technologies and confidential information on the neighbor’s foreign policy and national security.

In February, a UN panel of experts said North Korea continued to steal hundreds of millions of dollars from financial institutions and cryptocurrency firms and exchanges. Earlier this month, senior diplomats from the United States, South Korea and Japan agreed to step up efforts to stop illegal North Korean cyber activities.

Despite its economic difficulties, North Korea has conducted a record number of missile tests this year, which some experts believe is a sign of a bid to modernize its arsenal in future negotiations with its rivals to win sanctions relief and other concessions. There is an effort to make and increase your profit. It is not uncommon for North Korea to engage in cybercrime as a means of obtaining foreign currency.

In the past, the country has been accused of cyberattacks on banks and cryptocurrency exchanges to steal funds. These attacks are often sophisticated and well-planned and have often been successful in stealing large sums of money.

NIS estimates of the amount stolen by North Korean hackers over the past five years demonstrate the scale of the problem and the potential threat posed by the country’s cyber activities. It is essential for individuals and organizations to be aware of the risks posed by North Korean hackers and take appropriate steps to protect themselves from such attacks.

This includes adopting strong cyber security measures and being alert for signs of suspicious activity. In addition to the risks posed by North Korean hackers, it is also important to consider the broader context in which these attacks occur. The country’s reliance on cybercrime as a source of foreign exchange is a reflection of the difficult economic situation it is facing, exacerbated by the impact of the COVID-19 pandemic and international sanctions.

findings follow recent reports Sellers on the darknet generated at least $140 million in revenue in 2020-2021 by selling hacked data products.

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