$400 Million Worth of cryptocurrency was stolen by North Korean hackers Last Year


In seven major attacks on crypto platforms, North Korean hackers were able to steal $400 million worth of cryptocurrency, last year. Out of the stolen funds, ether accounted for 58% of the stolen funds, whereas Bitcoin was just 20%. 

In the information provided by the Blockchain platform, data about the unlaundered cryptocurrency holdings of North Korean hackers, was revealed. The blockchain platform revealed that the hackers primarily targeted investment firms and centralized exchanges. 

The attackers used phishing techniques, malware, and advanced social engineering, to steal assets from the hot wallets of the organization and transfer them to addresses controlled by the Democratic People’s Republic of Korea (DPRK). 

The blockchain platform also highlighted that during 2021 the North Korean hackers were very active and their hacking activities were on the rise. In comparison to 2020, in 2021 the number of hacks jumped from 4 to 7 and the value extracted from these hacks grew by 40%. 

Most of the cryptocurrency stolen by North Korean hackers was Ethereum, as Bitcoin only accounted for less than one-fourth of the cryptocurrency stolen.     

Disclaimer: The article is meant for the educational purpose only and in no way it should be considered as financial advice. Own research on the topic is advisable.

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