North Korean hackers have stolen a fifth of all cryptocurrencies

North Korean hackers have stolen a fifth of all cryptocurrencies stolen by criminals this year

After the new Research TRM Labs, between January and August 18, 2023, North Korea-affiliated hackers stole $200 million worth of cryptocurrencies, accounting for more than 20% of all cryptocurrencies stolen by cybercriminals this year. According to experts from TRM Labs, the stolen funds will be used to implement the DPRK government’s military programs.

    Image source: Pixabay

Image source: Pixabay

According to a report by TRM Labs, hackers use a variety of methods to steal cryptocurrencies: phishing and supply chain attacks, as well as infrastructure hacking, including compromising a private key or seed phrase.

According to Chainalysis, 2022 was the most successful year for crypto hackers. They stole $3.8 billion worth of cryptocurrencies, mostly through the use of decentralized finance protocols, and attackers linked to North Korea were instrumental in this.

Last March, US officials accused North Korea-affiliated hackers of stealing a record $600 million worth of crypto assets by using stolen private keys to hack the Ronin blockchain bridge that powers popular blockchain game Axie Infinity based.

According to the Wall Street Journal, under the guise of recruiters, hackers delivered a document containing malware to an engineer at Sky Mavis, a blockchain games company. This allowed the criminals to gain access to the engineer’s computer and hack the game Axie Infinity, which allowed them to steal 173.6 thousand Ethereum worth more than $600 million and USDC stablecoins worth more than Stealing $25.5 million.


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Robbie Elmers

Robbie Elmers is a staff writer for Tech News Space, covering software, applications and services.

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