North Korea’s Cryptocurrency Heists on the Rise
A recent report by Chainalysis, a US-based cryptocurrency analysis company, has shed light on the alarming increase in cryptocurrency thefts by North Korean hackers. The report reveals that these hackers have stolen approximately $1.34 billion from cryptocurrency platforms this year, a staggering 102.88% increase from the previous year.
A New Era of Collaboration
The surge in cryptocurrency thefts is believed to be linked to the mutual defense pact signed between Russian President Vladimir Putin and North Korean dictator Kim Jong-Un in June last year. The pact has led to increased collaboration between the two countries, including the sharing of military technology and expertise.
Stealing to Fund Weapons Programs
According to the Chainalysis report, the stolen cryptocurrencies are used to finance North Korea’s weapons of mass destruction programs and ballistic missiles. This poses a significant threat to international security, as some of these weapons are used by Russia in its attacks against Ukraine.
Russian Technical Advice
The report suggests that the increase in cryptocurrency thefts may be attributed to technical advice from Russian hackers, who have proven to be at the forefront of sabotage actions worldwide. The expertise of Russian hackers has likely contributed to the greater professionalism and efficiency of North Korean hackers.
A Growing Threat
The Chainalysis report highlights the growing threat posed by North Korean hackers in the global cryptocurrency market. The report states that North Korea has been consistently responsible for the majority of major attacks over the past three years.
International Security at Risk
The most concerning aspect of the report is the background behind these actions, which confirms that the North Korean communist dictatorship uses cryptocurrencies to finance its weapons and missile programs. This poses a significant danger to international security and underscores the need for increased vigilance and cooperation to combat these threats.