The world of cryptocurrencies has experienced tremendous growth over the past few years. While investors and entrepreneurs are reaping the benefits of innovation, they also seem to have been drawn to the downside of the internet. Once again, shocking news of crypto hacks by North Korean groups has come to light.
North Korea is targeting cryptocurrencies
From current figures from South Korea National Intelligence It turns out that North Korean cybercriminals stole a whopping $180 million worth of cryptocurrencies in the first six months of this year. these insights, reported by Asia Todaypoint to a systematic approach targeting crypto exchanges and DeFi platforms, among others.
Earlier this year We have already established that the growing popularity of the crypto market has not been without consequences. At the time, the United States Security Council reported that North Korean hackers had already stolen more than $1 billion worth of cryptocurrencies. In the meantime, we can already add a considerable sum here.
The Lazarus Group
The so-called Lazarus group seems to be at the center of these recent developments. These state-backed hackers are on target crypto market and are responsible for numerous large-scale attacks. Most recently, CoinsPaid was the victim of an attack that stole an estimated $37 million. Initial investigations revealed again that the Lazarus group is the prime suspect.
It is worrying to see that while the crypto market is thriving, threats are also increasing. And where “private” hackers are already disrupting the crypto industry, it is state-controlled cybercriminals like the North Korean group who pose an even greater threat. Not only because of the financial damage, but also because the stolen funds may be used for even more worrying purposes, such as: acquisition of nuclear weapons. This is already clear from a report by the UN.
“The country has used increasingly sophisticated cyber techniques to access digital networks involved in cyber finance and steal information of potential value, including the country’s weapons programs.”
These developments underscore the importance of enhanced cybersecurity in the crypto industry. Because in the case of North Korean hackers, it seems not only about financial losses, but also about international security.