North Korean hackers stole nearly $400 million in crypto last year

North Korean hackers stole nearly $400 million in crypto last year

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The previous yr noticed a panoramic rise within the worth of cryptocurrencies like Bitcoin and Ethereum, with Bitcoin gaining 60 % in worth in 2021 and Ethereum spiking 80 %. So maybe it is no shock that the relentless North Korean hackers who feed off that booming crypto financial system had an excellent yr as effectively.

North Korean hackers stole a complete of $395 million price of crypto cash final yr throughout seven intrusions into cryptocurrency exchanges and funding companies, in response to blockchain evaluation agency Chainalysis. The nine-figure sum represents an almost $100 million enhance over the earlier yr’s thefts by North Korean hacker teams, and it brings their complete haul over the previous 5 years to $1.5 billion in cryptocurrency alone—not together with the uncounted a whole bunch of hundreds of thousands extra the nation has stolen from the normal monetary system. That hoard of stolen cryptocurrency now contributes considerably to the coffers of Kim Jong-un’s totalitarian regime because it seeks to fund itself—and its weapons applications—regardless of the nation’s closely sanctioned, remoted, and ailing financial system.

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