COINOTAG News, May 8th. Recent reports from Bloomberg indicate that the G7 summit in Canada next month will address the heightened risks associated with North Korea’s cyber activities, particularly regarding cryptocurrency theft. Sources reveal that the regime’s reliance on cybercrime to sustain its operations has become a matter of significant concern. U.S. officials have previously noted that North Korea is financing its military ambitions through illicit cryptocurrency activities.
Data from blockchain analytics firm Chainalysis highlights a troubling trend; in 2024 alone, North Korean cybercriminals orchestrated 47 attacks, resulting in $1.34 billion in stolen assets. This figure constituted an alarming 61% of the total global cryptocurrency theft reported that year. Experts warn that as these hackers refine their methods, tracking misappropriated funds is becoming increasingly arduous, underscoring the growing need for enhanced cybersecurity measures.
Source: https://en.coinotag.com/breakingnews/north-koreas-cryptocurrency-theft-g7-leaders-to-address-cybersecurity-threats-at-upcoming-summit/