Northern Korean hackers have reportedly stolen a total of $ 3 billion in cryptocurrency since 2017, as revealed in a recent report from the Insikt Group of Recorded Future.
The revelation underlines the long -term involvement of the regime in the cryptocurrency sector, which switches from focusing financial institutions via the Swift network to a broader strategy during the 2017 cryptocurrency. Initially the focus on South Korea was finally expanded.
In 2022 alone, North Korean threat factors were confronted with allegations to take a substantial $ 1.7 billion in cryptocurrency. This amount, which represents 5% of the registered economy of the country or 45% of its military budget, emphasizes the considerable economic consequences of these cyber activities.
The funds obtained through illegal means undergo the typical white work processes used by conventional cyber criminal groups. This illegal income is crucial for the regime, which means that its financial resources are retained despite international sanctions.
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Supported by the State, Noord -Korean threat actors are concerned with activities that are a reflection of those of other cyber criminal groups, but on a larger scale, accounting for 44% of the stolen cryptocurrency in 2022. Their goals are allegedly moving further than cryptocurrency and alternative exchanges and outsourcing outlets from Involve.
The Cryptocurrency overlooked is often converted into Fiat -Valuta, in which North Korean threat actors use different tactics, including the use of stolen identities and manipulated photos. These methods are used strategically to avoid anti-money laundering practices.
According to the research by Recorded Future, the regime regards cryptocurrency theft as an important source of income, which mainly finances military and weapons programs. The exact allocation for ballistic rocket launches remains uncertain. However, there is a noticeable correlation between the increase in stolen cryptocurrency and the rise in rocket launches.
The report Underlines the need for stronger regulations, improved cyber security measures and increased investments in the cyber security of cryptocurrency companies.
“Without stronger regulations, cyber security measures and investments in cyber security for cryptocurrency companies, Noord -Korea will probably continue to focus on industry for extra income,” Future wrote.
“Despite limitations on the movement and isolation of the general population, the elite and highly trained professionals of the regime with privileged access to technology play a crucial role in performing cyber attacks against the cryptocurrency industry.”