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The North Korean regime has managed to steal more cryptocurrency in the past year than in previous years, according to a draft UN report. Despite the difference in the estimates cited, the authors conclude that 2022 was a record year for crypto theft, to blame the hermit state.
Cybercrime Groups Linked to North Korea Get Hold of Crypto Worth Over $1 Billion in a Year
North Korea has stolen more crypto assets in 2022 than in any other year, according to a United Nations report which is to be released by the end of this month or in early March. The draft document, seen by reuters and nikkei asia, reveals how the isolated country collects funds through cyber attacks and circumventing international restrictions.
The document, which is still confidential right now, was presented on Friday to the United Nations Security Council committee on sanctions against North Korea. The results are based on data from UN member states and cybersecurity companies.
Various estimates are cited. A product from South Korea suggests that pyongyang-controlled hackers acquired crypto worth $630 million during the period under investigation, when a cybersecurity company estimated that it received more than $1 billion in virtual cash. In any event, independent sanctions observers are of the opinion that:
In 2022, DPRK actors stole more cryptocurrency assets than last year.
Tenth of the total stolen from South Koreans.
The change in cryptocurrency's U.S. dollar equivalent in recent months may have had an impact on these estimates, the report noted, but noted that both estimates showed 2022 to be a record year for crypto theft associated with the Democratic People's Republic of Korea (DPRK).
A similar conclusion is drawn from the chain-run data. Last week, the U.S.-headquartered blockchain forensics firm said that North Korea-linked hackers, such as the members of the Lazarus Group, have been particularly active last year, having stolen around $1.7 billion worth of coins.
Citing intelligence authorities, on Tuesday chosun ilbo based in Seoul that nearly 10% of the total was drawn from South Korean corporate and personal accounts. He also noted that the money was allegedly laundered and used to fund missile and missile development programs in the north.
Sanctions observers have stated that the majority of cyber attacks have been carried out by hacking teams controlled by the North Korea General Reconnaissance Office, the communist state's main intelligence agency. In addition to lazarus, there are also groups such as kimsuky and andariel. The UN report also indicates that the techniques they use are becoming increasingly sophisticated, making it difficult to follow up.
Do you think actors linked to North Korea are going to steal even more cryptocurrencies in 2023? Reflect on the topic in the comments section below.
