North Korean cryptocurrency hackers use their proceeds to fund the regime | Crypto

North Korean cryptocurrency hackers use their proceeds to fund the regime

– North Korea has been behind many of the cryptocurrency hacks taking place over the last year.
– In mid-August, a US-based blockchain analysis company suggested that hackers had stolen over $1.9 billion from cryptocurrency investors during the first seven months of 2022.
– Of this total, the “bad actors affiliated with North Korea, especially elite hacking units like Lazarus Group” were responsible for stealing over $1 billion.
– These hackers have been targeting decentralized finance (DeFi) protocols because they use open source code which can be studied for weaknesses and exploited.
– A South Korea-based analyst suggested that the increasing value locked in DeFi protocols is one reason why crypto hacks have been getting bigger year on year.

OODA Twitter Card Large North Korean cryptocurrency hackers use their proceeds to fund the regime

Leave a Reply

%d bloggers like this: