North Korean hackers stole $400 million in attacks on cryptocurrency exchanges over the past year
A report published by Chainalysis, a leading forensic analytics company in the cryptocurrency markets, stated that nearly $400 million worth of digital assets were stolen in at least seven attacks.
The report considered that last year was one of the most successful years ever for hackers in North Korea.
The attacks mainly targeted investment companies and central currency exchanges.
The Chainalysis report indicates that many of the attacks of the past year may be linked to a group calling itself "Lazarus", which is believed to be affiliated with North Korean intelligence.
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North Korea has always denied its involvement in such attacks.
According to the Chainalysis report, "during the period from 2020 to 2021, the number of hacking attacks related to North Korea increased from four to seven, and the amount generated from those attacks increased by 40 percent."
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The hackers used a number of methods in their attacks, for example: fraud to gain access to data, and the exploitation of malicious codes and software in order to steal money from targeted organizations.
Hackers target "hot" cryptocurrency wallets - which are connected to the Internet - before transferring funds to destinations under North Korean control.
The connection of digital currency wallets to the Internet provides the opportunity for network users to be able to send and receive digital currencies, and this also gives them the opportunity to view the amount of digital currencies they own.
North Korea's Lazarus Group is under US sanctions and has been accused of involvement in the "WannaCry" ransomware hacking attacks, attacks on international banks and international bank accounts, as well as cyberattacks on Sony Pictures.
The Chainalysis report said: "Once the funds reach entities under North Korean control, they are in turn subject to money laundering operations."
A UN panel monitoring sanctions against North Korea has accused Pyongyang of using stolen funds to support its nuclear programme.
Last February, the United States accused three North Korean programmers of involvement in hacking operations aimed at stealing more than $1.3 billion.
The US Department of Justice said that the cyber attacks affected institutions, including banks and art production companies.
The three Koreans are also accused of involvement in the WannaCry cyberattack in 2017, which completely crippled health service computer systems in the United States.
In announcing the charges against them, the Assistant Attorney General for National Security at the time, John Demers, declared that North Korea had "become a criminal gang with a flag".
North Korean agents, who use keyboards instead of guns, and steal digital wallets of cryptocurrency instead of moneybags, are the world's biggest bank robbers," Demers said.
The isolated country is believed to have trained hackers based in other countries, including China.
North Korea does not extradite its citizens to face foreign accusations.
