North Korean hackers stole $ 400 million in crypto in 2021: Chainalysis

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Issued: 01/14/2022 – 12:46 Modified: 01/14/2022 – 12:44

Washington (AFP) – Last year, North Korean hackers stole an estimated $ 400 million in cryptocurrency in cyberattacks on digital currency outlets, blockchain data platform Chainalysis announced Thursday.

Pyongyang faces multiple international sanctions for its atomic bomb and ballistic missile developments, but analysts say the North has also beefed up its cyber capabilities with an army of thousands of well-trained hackers mining funds to finance state armament programs.

In 2021, hackers launched seven attacks on crypto platforms, extracting assets from “hot” Internet-connected “wallets” and moving them to accounts controlled by North Korea, according to Chainalysis.

“Once North Korea obtained custody of the funds, it began a careful laundering process to cover and collect,” Chainalysis said in a report posted on its website.

“These complex tactics and techniques have led many security researchers to characterize the Democratic People’s Republic of Korea (DPRK) cyber actors as advanced persistent threats. ”

The report highlighted the rise of the group Lazarus, which gained notoriety in 2014 when it was accused of hacking Sony Pictures Entertainment in revenge for “The Interview”, a satirical film that made fun of frontman Kim. Jong Un.

“Starting in 2018, the group has stolen and laundered massive amounts of virtual currencies each year, typically over $ 200 million. ”

Hackers are also targeting a wide variety of cryptocurrencies, with Bitcoin, the world’s largest digital currency, accounting for just a quarter of stolen assets.

“The growing variety of stolen cryptocurrencies has necessarily increased the complexity of the DPRK’s cryptocurrency laundering operation,” Chainalysis said.

North Korea’s cyber program dates back to at least the mid-1990s, but has since grown into a 6,000-man cyber warfare unit, known as Office 121, which operates out of several countries including Belarus, China. , India, Malaysia and Russia, according to a 2020 US military report.

The United States imposed new sanctions on North Korea this week following what Pyongyang called hypersonic missile tests on January 5 and 11.

South Korean and Japanese officials said on Friday that North Korea fired an unidentified projectile eastward during its third test of suspected weapons in just over a week.

© 2022 AFP

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