North Korean Hackers Steal Record Sums, Researchers Say
In a shocking revelation, researchers have found that North Korean hackers have stolen more than $2 billion from cryptocurrency holders this year alone. This staggering figure marks a record for the regime-linked hackers, who now account for around 13% of North Korea's gross domestic product (GDP), according to United Nations' estimates.
The hacking teams, including Lazarus Group, have been targeting cryptocurrency companies for large thefts of digital tokens over the past few years. However, investigators at research firm Elliptic warn that wealthy individuals holding cryptocurrencies have become increasingly attractive targets due to their lack of robust security measures.
"We've seen a significant shift in tactics from targeting businesses to targeting high-net-worth individuals," said Dr. Tom Robinson, chief scientist at Elliptic. "These individuals often don't have the same level of security as companies, making them an easier target for hackers."
The stolen funds are believed to be used to finance North Korea's nuclear weapons and missile development programs. Western security agencies have been tracking these activities closely, with some estimating that the true figure for hacks carried out by North Korea could be even higher due to unreported incidents.
Attributing cyber thefts to North Korea can be challenging, as hackers often use sophisticated techniques to cover their tracks. However, researchers at Elliptic say they have identified a pattern of behavior among North Korean hacking teams that suggests a significant portion of the stolen funds are being used for illicit activities.
The targeting of individuals has raised concerns about the vulnerability of cryptocurrency holders to cyber attacks. As more people invest in cryptocurrencies, the risk of falling victim to these types of hacks increases. Experts warn that users must take extra precautions to secure their digital assets, including using robust security measures and staying informed about potential threats.
The North Korean government has not commented on the allegations, but experts say the regime's reliance on hacking for revenue is a worrying trend. As the global community continues to grapple with the implications of cryptocurrency thefts, researchers are urging governments and financial institutions to take action to prevent these types of attacks.
Background
North Korea's hacking activities have been well-documented over the years, with the Lazarus Group being one of the most notorious groups linked to the regime. In 2014, the group was blamed for a massive hack on Sony Pictures Entertainment, which resulted in the theft of sensitive data and embarrassing emails.
The use of cryptocurrency has become increasingly popular in recent years, with many investors turning to digital tokens as a way to diversify their portfolios. However, this increased adoption has also made them more attractive targets for hackers.
Next Developments
As researchers continue to track North Korean hacking activities, the global community is left wondering what measures can be taken to prevent these types of attacks. Governments and financial institutions are being urged to take action to secure digital assets and prevent the flow of illicit funds.
In the meantime, cryptocurrency holders are advised to exercise caution when investing in digital tokens and to stay informed about potential threats. As the world grapples with the implications of cryptocurrency thefts, one thing is clear: the North Korean hacking threat is a serious concern that requires immediate attention.
*Reporting by Bbc.*
