According to a calculation made by South Korea’s National Intelligence Service, threat actors with connections to North Korea have stolen around 1.2 billion dollars worth of cryptocurrency worth approximately 1.5 trillion won. Additionally, additional digital assets acquired throughout the course of the past five years
Experts and government representatives claim that North Korea has begun engaging in crypto-hacking as well as other unethical online activity. Nevertheless, as a source of badly needed foreign cash to prop up its shaky economy, it is a source of great importance. In addition, it financed its nuclear development as a countermeasure to the severe sanctions imposed by the United Nations and the COVID-19 epidemic.
Cyber thieves from North Korea made off with assets worth $1.2 billion.
Since the United Nations adopted stricter economic restrictions in 2017, North Korea has shifted its attention to activities related to cybercrime. Nevertheless, according to the primary espionage agency in South Korea, it was a reaction to its previous nuclear and missile tests. It is also said to have one of the greatest capabilities in the world when it comes to stealing digital assets.
Sanctions imposed by the United Nations were put into effect during the years 2016 and 2017. It was done with the intention of preventing North Korea from exporting vital items like coal, textiles, and seafood. They also pressured member governments to extradite North Koreans who were working in other countries back to their native country. Its economy suffered further difficulties when it adopted some of the most stringent restrictions in the world in an effort to battle the epidemic, which it had done in order to combat the pandemic.
It is believed that hackers working for the North Korean government stole virtual assets worth a total of $1.2 billion ($1.5 trillion) globally. On the other hand, beginning in 2017 it includes a total of $800 billion ($626 million) only for this year. It was claimed that South Korea made a contribution of more than 100 billion won, which is equivalent to $78 million.
North Korea continued to undertake missile tests despite the country’s worsening economic situation.
It was said that other assaults carried out by North Korean hackers were expected to take place in the following year. On the other hand, this is an attempt to steal cutting-edge technology from South Korea, in addition to confidential information on that nation’s national security and foreign policy.
North Korea has undertaken a record number of missile launches this year, despite the fact that its economy is in disarray. Despite this, there are some knowledgeable individuals who feel that it is an attempt to update their weaponry.
