Tue. Jan 18th, 2022

Last year Saw one Shortness of breath Its value Cryptocurrencies like Bitcoin and Etherium, In 2021 the price of Bitcoin increased by 60 percent and Ethereum by 80 percent ৷ So perhaps it is no wonder that relentless North Korean hackers Those who fed that growing crypto economy also had a very good year.

North Korean hackers stole a total of $ 395 million worth of cryptocurrencies last year through seven intrusions into cryptocurrency exchanges and investment firms, according to blockchain analysis firm Chanellysis. The nine-figure sum represents an increase of about $ 100 million compared to last year’s theft by North Korean hacker groups, and it brings them to a total of 1.5 1.5 billion in cryptocurrency over the past five years – not including the country’s countless millions more. Stole from the traditional financial system. That stockpile of stolen cryptocurrencies now contributes significantly to the treasury of Kim Jong-un’s totalitarian regime because it seeks to finance itself. Weapons programDespite the country’s widely accepted, isolated and ailing economy.

“They’ve been very successful,” said Erin Plante, a senior director at Chanellysis Investigations, whose report called 2021 a “banner year” for North Korea’s cryptocurrency theft. Investigations show that North Korea’s global, series of robberies have accelerated even in the wake of law enforcement crackdown efforts; The U.S. Department of Justice, for example, In February last year, three North Koreans were charged in absentia, Accused of stealing at least 1 121 million from the cryptocurrency business as well as other financial crimes. A Canadian man has also been charged with aiding and abetting money laundering. But those efforts did not stop the bleeding of crypto resources. “We are excited to see action taken by law enforcement agencies against North Korea,” Plante said. “Yet the threat continues and grows.”

The channelization numbers based on the exchange rate at the time of the theft do not just mean the value of the cryptocurrency. The increase in stolen funds tracked the number of thefts last year; The number of seven violations tracked by channelis in 2021 is three times higher than in 2020, although the 10 most successful attacks were carried out by North Korean hackers in 2018, when they stole a record $ 522 million.

For the first time since channelisation began tracking North Korea’s cryptocurrency theft, Bitcoin no longer represents anywhere near most of the country, accounting for about 20 percent of the stolen funds. A total of 58 percent of the group’s cryptocurrency profits came in the form of stolen ether, the currency unit of the Etherium network. Another 11 percent, about $ 40 million, came from stolen ERC-20 tokens, a form of crypto asset used to create smart contracts in the Ethereum blockchain.

Chainalysis’s Plante feature, which has increased its focus on Ethereum-based cryptocurrencies মোট Total theft last year $ 272 million vs. $ 161 million in 2020 আকাশ skyrocketing assets in the Ethereum economy, combined with new companies that have grown. “Some of these exchanges and trading platforms are new and potentially more risky for such intrusions,” he says.

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