North Korean-linked hackers stole virtual assets worth $630m cryptocurrencies in 2022 - Be security conscious
Hello LeoFinance ecosystem! Today I bring you a report on North Korean crypto theft as reported by the UN. Good morning!
It's just obvious that there's a increase in cybercrime on a daily basis and the cryptoverse has been one of the victims of these cyber attacks. These cyber attacks aren't done with the normal hacking devices but with sophisticated technologies that have been developed by North Koreans.
No wonder it's usually said that not your keys, not your crypto. This saying is just to give the crypto holders the sense of becoming more security conscious in dealing with his or her crypto keys and wallets.
North Korea stole more cryptocurrency assets in 2022 than in any other year and targeted the networks of foreign aerospace and defence companies, according to a currently confidential United Nations report seen by the Reuters news agency.
“[North Korea] used increasingly sophisticated cyber techniques both to gain access to digital networks involved in cyber finance, and to steal information of potential value, including to its weapons programmes,” independent sanctions monitors reported to a UN Security Council committee.
This hacking has been linked to the North Korea DPRK actors and it's been reported that North Korean crypto theft in 2022 has surpassed other crypto thefts ever and it's assets is worth $630m, which has yielded about $1bn worth cryptocurrencies.
Most people around the world have have said that North Korea's nuclear facilities and weapons have been built through money realized from crypto thefts, although this hasn't been proven but looks likely.
“The variation in USD value of cryptocurrency in recent months is likely to have affected these estimates, but both show that 2022 was a record-breaking year for DPRK virtual asset theft,” the UN report said.
It should be noted that the techniques used by the North Korean crypto thefts is so sophisticated that it's very difficult to track stolen funds. This on its own mounts a threat on the future security of crypto exchange companies and others blockchains.
The inability to track a stolen crypto is on its own a mystery to the entire cryptoverse and a threat to the existence and sustainability of the cryptoverse.
The US linked North Korean hackers in April to the theft of hundreds of millions of dollars’ worth of cryptocurrency tied to the popular online game Axie Infinity. Ronin, a blockchain network that lets users transfer crypto in and out of the game, said digital cash worth almost $615m was stolen on March 2022.
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