North Korea may be behind new $100 million crypto hack, experts say
2 years, 5 months ago

North Korea may be behind new $100 million crypto hack, experts say

The Hindu  

North Korean hackers are most likely behind an attack last week that stole as much as $100 million in cryptocurrency from a U.S. company, three digital investigative firms have concluded. “Preliminarily this looks like a North Korean hack based on transaction behaviour,” said Nick Carlsen, a former FBI analyst who now investigates North Korea’s cryptocurrency heists for TRM Labs, a U.S.-based firm. “This makes it easier to cash out the funds at an exchange.” If confirmed, the attack would be the eighth exploit this year – totalling $1 billion in stolen funds – that could be attributed to North Korea with confidence, accounting for 60% of total funds stolen in 2022, Chainalysis said. North Korea’s ability to cash in on its stolen assets may have been complicated by the recent drop in cryptocurrency values, experts and South Korean officials told Reuters, possibly threatening a key source of funding for the sanctions-strapped country.

History of this topic

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