North Korea: North Korea stole $ 400 million worth of crypto in 2021, report says


Seoul: North KoreaThe hacker army carried out at least seven attacks on cryptocurrency platforms in 2021 that intimidated global players and amassed digital assets worth about $ 400 million in a secluded state, according to a report.
A report released by blockchain research firm Chanellis on Thursday states that the number of attacks has increased by 40% compared to a year ago, adding that the attacks mainly target investment companies and central exchanges.
“These behaviors, put together, paint a picture of a nation that supports large-scale cryptocurrency-enabled crime,” he said.
The findings of the channelisis underscore the leader Kim Jong UnReliance on state-backed hackers. U.S. And the UN Security Council says the country’s cybercrime helps finance North Korea’s nuclear weapons program and promotes an economy blocked by global sanctions on nuclear bombs and long-range missile tests.
The amount recorded by the research group is about 1.5% of North Korea’s economy in 2020 and it accounts for more than 10% of its annual military budget. The money North Korea receives from cybercrime helps it “fund government priorities, such as its nuclear and missile programs,” the US Office of the Director of National Intelligence said in a 2021 unclassified report.
The channel said North Korea used phishing lures, code exploits, malware and advanced social engineering to fund it. “Once North Korea seized the funds, they began a careful laundering process to cover and withdraw the cash.”
The report states that North Korea is stealing a growing variety of cryptocurrencies. This has increased the complexity of its money-laundering operations, which are becoming more cautious with each passing year, he added.
The report comes as North Korea stepped up its pressure on sanctions, sending a “strong and definite response” if the US tries to impose further economic pressure, according to a statement from its foreign ministry on Friday.
After North Korea conducted two tests this month of a new hypersonic missile system designed to use high-speed and maneuvering to avoid U.S. interceptors, the U.S. Treasury Department designated five North Koreans living abroad – one in Russia and four in China – for the country’s nuclear weapons and ballistic missile program. .
Kim has shown little interest in a U.S. call to return to nuclear disarmament talks, which have been stalled for nearly three years. This Biden The administration has suggested that it may offer financial rewards in exchange for verifiable disarmament measures.
Firing line
The North Korean regime has sought to replenish its coffers through two main ways of evading sanctions, the United States and the United Nations have said. The first is cybercrime. The second is ship-to-ship transfer of coal-like goods: a North Korean ship will move its cargo to another ship or another, and both ships usually try to hide their identities.
Currently, North Korea’s Cyber ​​Warfare Guidance Unit has more than 6,000 members, also known as Bureau 121, according to an assessment of unclassified defense reports from the US and South Korea.
The U.S. government is pursuing alleged North Korean agents who have filed criminal complaints against the people, it said, adding that in 2014 Sony Pictures Entertainment Inc. Illegally obtained confidential data from and stole $ 81 million from Bangladesh’s central bank in 2016. North Korea has denied it. Involvement in those hexes.

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