TL;DR Breakdown
• North Korean government reportedly financing crypto pirates.
• Mandiant investigates North Korea after linking it to the theft of $400,000,000 in cryptocurrency.
Recently a cyber security agency announced that the North Korean government promotes crypto-thefts in its territory. According to reports, a North Korean group is dedicated to hacking crypto wallets to extract funds in decentralized currencies from their clients.
Since cryptocurrency trading peaked in 2021, news of cyber heists has been frequent. The Virginia investigative agency Mandiant alleges that Kim Jong-un is guilty of stealing scientific breakthroughs and cryptocurrency assets through hacking organizations worldwide.
North Korea under investigation for crypto theft
Mandiant, a company responsible for fighting cybercrime, shows thatthe country government is guilty of stealing cryptocurrency assets. According to the investigative agency, The country would be behind hackers who break into crypto platforms and financial organizations worldwide.
The Virginia-based agency indicates these hackers have increased crypto thefts. This occurred after the East Asian country, like other territories, suffered almost two years from the Covid-19 pandemic.
Mandiant said that North Korea uses stolen crypto funds and uses the cryptos for weapons, vaccines, and to avoid the economic blockades that Washington is pursuing.
The country approve the cybercriminal organization operations
There are reports that North Korea supports a cybercriminal organization. The espionage work shows that Lazarus would be guided by Kim Jong-Un, corresponding to the president who followed the Kim dynasty.
Hackers may have mined around $400,000,000 worth of various tokens after completing attacks on around seven exchanges. Chainalysis, a cryptoanalysis agency, announced that by 2017 the majority of virtual thefts would be based in the North Korean area.
Mandiant reveals that North Koreans use tools such as phishing, encryption systems, advanced programming, and malware to break into crypto agencies. After perpetrating the theft, the hackers send the funds to a crypto mixer to launder the money and send it to their virtual wallets.
The main crypto thefts are linked to Bitcoin mining, Ethereum, and Litecoin, the most popular tokens. In recent months, exchanges have also seen Dogecoin and Shiba Inu theft. The investigation agency does not rule out that the stolen money in cryptos is higher than announced.
Source: https://www.cryptopolitan.com/north-korea-steals-cryptocurrencies-assets/