- North Korean hackers have stolen almost $900 million in digital coins from cryptocurrency fund and ICOs since 2016.
- For many years, researchers have suspected the hacking group Lazarus to be an extension of the North Korean government.
While the US President Donald Trump has been making efforts to entirely disarm and denuclearize North Korea, the country remains a significant threat to the world. After its economy was brought to its knees thanks to U.S. sanctions, the Asian country has allegedly resorted to devious ways of raising capital.
According to reports published by Group-IB and Recorded Future, Kim Jong-un’s Dictatorial Regime has been relying on hacks of crypto exchanges and crypto scams to cushion the effects of international sanctions.
The report found out that North Korean hackers have stolen almost $900 million in digital coins from cryptocurrency fund and ICOs since 2016.
Hacking group Lazarus
The infamous North Korea-based hacking group behind hacks on crypto exchanges is known as “Lazarus”. For many years, researchers have suspected the Lazarus to be an extension of the North Korean government.
In 2016, the group hacked the Bangladeshi central bank and stole $81 million via SWIFT payment platform. The theft would have totalled at least $1 billion should a minor mistake in the routing instructions had not raised the red flag.
Ransomware “WannaCry” attack
Then came the infamous WannaCry ransomware attack that crippled hundreds of thousands of computers worldwide. The virus encrypted people’s files and charged owners hundreds of dollars to recover access to those files.
Of the 40000 institutions infected, about 4000 of them were learning institutions. In this case, most WannaCry victims were students. Many reported being locked out of their dissertation presentations and thesis papers. The virus also affected banks, hospitals and businesses.
Thomas Bossert, an aide to US President Donald Trump, blamed Kim Jong-Un administration for the worm. He made the accusation in the Wall Street Journal newspaper. He added that New Zealand, Australia, Canada and the UK also share his conclusion that North Korea was behind the attack.