North Korean hackers are becoming more and more sophisticated and are becoming true experts in their field. The proof: the number of hacking operations they carried out increased between 2020 and 2021. According to the blockchain analysis company, it went from 4 to 7, and this would only be the beginning.
North Korea would use the stolen funds
Since 2020, hackers based in North Korea have managed to launch at least 7 attacks on cryptocurrency platforms. These attacks allowed them to fly close to $400 million into digital assets over the past year. It’s been a particularly good year for hackers, notes blockchain analytics firm Chainalysis in a new report.
“From 2020 to 2021, the number of North Korea-related hacks jumped from four to seven, and the value extracted from these hacks increased by 40%,” says the report released on Thursday. Furthermore, he specifies that a “Once North Korea was granted custody of the funds, it began a thorough laundering process to cover the money received.”
The situation worries foreign countries as well as international organizations such as the United Nations. A group of UN experts responsible for monitoring the country’s sanctions accused him of using the stolen funds to supporting nuclear and weapons programs with the aim of circumventing the sanctions against him.
North Korea supports hackers
Despite pressure from the media, North Korea refuses to provide an explanation for the funds allegedly stolen. In fact, authorities have issued statements in which they deny all allegations of organized hacking.
Speaking of allegations, in 2020 the United States accused North Korea of setting up three computer programs that led to a $1.7 billion fiat currency and cryptocurrency hack. This operation had then affected major banks as well as Hollywood film studios.
But how do hackers operate? Their strategy is not really a mystery. According to Chainalysis, they use phishing lures and malware to explore and attack hot wallets belonging to the people and companies that are their targets. The majority of successful attacks are attributed to the Lazarus Group, a US-sanctioned hacker collective. The group claims to be controlled by North Korea’s intelligence service.
In North Korea, the hacking of data and money would be organized with the support of the authorities of the country. This is what many international organizations, including the UN, think. The United States also believes that North Korea is providing aid to a specific pirate group: Lazarus Group.
Source: Aljazeera
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Luc Jose Adjinacou
Far from having dampened my enthusiasm, an unsuccessful investment in 2017 on a few cryptos only increased my enthusiasm. I therefore resolved to study and understand the blockchain and its many uses and to relay with my pen information relating to this ecosystem.
