Cyberattacks from North Korea have increased significantly between 2020 and 2021, according to a report on Moneycontrol.com.
40% increase in hacks in a year
The report reveals that the heavily sanctioned country, which faces a slew of sanctions over its secretive nuclear weapons program, was able to take away nearly $400 million in digital assets last year. This is one of the most successful years on record, says blockchain analytics firm Chainalysis, in a new report.
After North Korea successfully siphoned off crypto assets, it began a careful money-laundering process to cover up and withdraw the funds.
North Korea is under sanctions under Security Council resolutions. However, a United Nations panel that oversees the enforcement of sanctions against North Korea has accused Pyongyang of using the stolen funds to support its nuclear and ballistic missile programs. circumvent sanctions.
North Korea never responded to world media about the allegations. However, in the past, it has denied allegations of hacking.
Three North Korean Computer Programmers Charged with Stealing $1.3 Billion in Coins and Cryptocurrencies
In 2021, the US charges three North Korean computer programmers with participating in a massive and year-long hack to steal $1.3 billion in coins and cryptocurrencies. The three programmers are part of a national intelligence agency. Entities affected by the attack include banks, crypto-related entities, and even Hollywood movie studios.
Chain analysis does not exactly identify the victims of the hacks but does say that victims include investment firms and centralized exchanges. It also includes Liquid.com, which announced in August that an unauthorized user had gained access to several crypto wallets it manages.
The methods used by hackers include phishing, code-mining, malware, and advanced social engineering to withdraw funds from these institutions into hot, internet-connected wallets, the report said. addresses controlled by North Korea.
Attackers were also tracked down by the ‘WannaCry’ ransomware attacks, which attacked international banks and customer accounts, as well as the 2014 cyberattacks on Sony Pictures Entertainment.
Chain analysis also revealed that North Korea has perfected software to launder stolen cryptocurrency by aggregating and scrambling cryptocurrency from thousands of addresses.