North Korean hackers steal $497M in crypto from US businesses

North Korean hackers have stolen $497 million in cryptocurrency from US companies since 2017, according to an analysis by Nikkei-sponsored Elliptic.

The elliptic analysis focused on companies whose cryptocurrencies were transferred to wallets connected to North Korea’s state-run Lazarus Group, a group notorious behind multiple DeFi project abuses.

The United Nations and the US government have repeatedly emphasized how Asian countries are supporting cybercrime to fund missile programs.united nations the report was claimed Hackers in the country stole more than $1 billion in cryptocurrency in 2022, more than doubling by 2021.

Earlier today, U.S. Department of Justice (DOJ) official Eunyoung Choi said federal officials are stepping up surveillance of DeFi users because North Korea-backed hackers are prevalent in these activities. said.

Meanwhile, an analysis sponsored by the Nikkei Shimbun found that state-sponsored hackers have also focused their operations in other countries, including Japan, Vietnam and Hong Kong.

North Korean hackers steal $2.3 billion

Hackers stole $2.3 billion in crypto assets from companies around the world over the past five years, according to an analysis.

Japan has been a prime target for these hackers, who stole $721 billion, equivalent to 30% of the illicit wealth, from domestic companies. Vietnam followed suit, stealing $540 million and $281 million from Hong Kong.

The research found that hackers rely on ransomware payments and hacks to obtain illicit funds. In some cases, they stole directly from cryptocurrency exchanges or exploited vulnerabilities in cross-chain DeFi projects like Horizon. There have also been cases of hacking corporate data and extorting ransom payments in cryptocurrencies.

Meanwhile, hackers appear to be focusing on Japanese and Vietnamese crypto exchanges with weak security.Oblong report North Korean hackers reportedly hacked at least three Japanese exchanges between 2018 and 2021.

An article about North Korean hackers stealing $497 million in cryptocurrency from a US company first appeared on CryptoSlate.

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