North Korean hackers stole almost $400 million in crypto final yr

North Korean hackers stole nearly $400 million in crypto last year

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The previous yr noticed a panoramic rise within the worth of cryptocurrencies like Bitcoin and Ethereum, with Bitcoin gaining 60 p.c in worth in 2021 and Ethereum spiking 80 p.c. So maybe it is no shock that the relentless North Korean hackers who feed off that booming crypto economic system had an excellent yr as effectively.

North Korean hackers stole a complete of $395 million value of crypto cash final yr throughout seven intrusions into cryptocurrency exchanges and funding corporations, in response to blockchain evaluation agency Chainalysis. The nine-figure sum represents a virtually $100 million improve over the earlier yr’s thefts by North Korean hacker teams, and it brings their whole haul over the previous 5 years to $1.5 billion in cryptocurrency alone—not together with the uncounted lots of of thousands and thousands extra the nation has stolen from the standard monetary system. That hoard of stolen cryptocurrency now contributes considerably to the coffers of Kim Jong-un’s totalitarian regime because it seeks to fund itself—and its weapons applications—regardless of the nation’s closely sanctioned, remoted, and ailing economic system.

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