North Korean hackers steal more than half a billion dollars in crypto in 2021: report

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Most of the attacks last year were likely carried out by the Lazarus Group, a US-sanctioned hacking group that claims to be controlled by the Reconnaissance General Bureau, North Korea’s main intelligence office.

The group has been accused of being involved in the “WannaCry” ransomware attacks, hacking into international banks and accounts receivable, and the 2014 cyberattacks on Sony Pictures Entertainment.

North Korea has also appeared to step up efforts to launder stolen cryptocurrencies, dramatically increasing its use of mixers or software tools that aggregate and scramble cryptocurrencies from thousands of addresses, Chainalysis said.

The report says researchers identified $ 170 million of old unbleached cryptocurrency holdings from 49 separate hacks spanning 2017 to 2021.

The report says it’s not clear why hackers would still be sitting on those funds, but said they might hope to outsmart law enforcement interests before cashing in.

“Whatever the reason, the length of time (North Korea) is willing to hold onto these funds is illuminating, as it suggests a prudent plan, not a desperate and hasty plan,” Chainalysis concluded.

North Korea on Friday berated the Biden administration for imposing new sanctions on the country for its latest missile tests and warned of stronger and more explicit action if Washington maintains its “confrontational stance.”

In a statement released by North Korea’s official Korean Central News Agency, an unidentified Foreign Ministry spokesperson defended recent North launches of alleged hypersonic missiles as a just exercise in self-defense.

The spokesman said the new sanctions underscore the United States’ hostile intention to “isolate and suffocate” the North despite repeated calls from Washington to Pyongyang to resume diplomacy which has stalled over disagreements over the easing of sanctions and nuclear disarmament measures.

The Biden administration on Wednesday imposed sanctions on five North Koreans for their role in obtaining equipment and technology for North Korean missile programs in response to the latest North Korean missile test this week and also said she would seek further UN sanctions.

The Treasury Department’s announcement came just hours after North Korean leader Kim Jong-un supervised a successful test of a hypersonic missile on Tuesday that he said would dramatically increase the country’s nuclear “war deterrence” .

Reuters, AP

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