North Korea has continued to develop its nuclear and ballistic missile programs over the past year, and cyber attacks on cryptocurrency exchanges are a significant revenue source for the country, according to an excerpt from a United Nations report citing cybersecurity professionals. are. Investigators found that cyberattacks stole more than $50 million (about Rs 373.5 crore) of digital assets between 2020 and mid-2021 from at least three cryptocurrency exchanges in North America, Europe and Asia.
The report was submitted last week by independent sanctions monitors to the UN Security Council North Korea Sanctions Committee, but was seen by Reuters, The confidential report claims that there has been “a marked acceleration” in North Korea’s testing and demonstration of new short-range and possibly medium-range missiles in January, “incorporating both ballistic and guidance technologies, and using both solid and liquid propellant.” using” – all achieved primarily through cyber attacks, of which, cryptocurrency Exchange has also been a major target.
The report also referred to an estimate provided by blockchain analysis company Chainalysis in its latest crypto crime report which states that North Korea conducted at least seven attacks on cryptocurrency platforms, amounting to around $400 million (approximately $400 million) in 2021. 2,990 crore) of digital assets.
“These attacks primarily targeted investment firms and centralized exchanges,” the firm explained. Part Its 2022 crypto crime report. The hackers used “phishing lures, code exploits, malware and advanced social engineering” to extract funds from companies’ hot wallets into addresses controlled by the Democratic People’s Republic of Korea (DPRK), Chainalysis said, “once North Korea Having secured custody of the funds, they began a careful laundering process to cover up and cash out.”
“Only 20 percent of the funds stolen were bitcoin… and for the first time ever, ether accounted for the majority of the stolen funds, 58 percent,” noted Chainalysis.
“This Year Over 65 Percent Of The Stolen Money Of The DPRK Was Laundered Through Mixer” [2021]This, up from 42 percent in 2020 and 21 percent in 2019, suggests that these threat actors have taken a more cautious approach with each passing year,” the firm concluded.
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