{"id":49677,"date":"2023-05-15T11:12:16","date_gmt":"2023-05-15T15:12:16","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=49677"},"modified":"2023-05-15T11:12:19","modified_gmt":"2023-05-15T15:12:19","slug":"north-korea-hacks-u-s-crypto-firms-for-497m","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/north-korea-hacks-u-s-crypto-firms-for-497m\/","title":{"rendered":"North Korea Hacks U.S. crypto firms for $497M"},"content":{"rendered":"\n

Since 2017, hackers sponsored by North Korea<\/a> have stolen nearly $500 million worth of cryptocurrencies from U.S. companies, according to a new analysis.<\/p>\n\n\n\n

\"North<\/figure>\n\n\n\n

According to a Nikkei-sponsored Elliptic analysis\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, since 2017, North Korean hackers have stolen $497 million in cryptocurrencies from U.S. businesses.<\/p>\n\n\n\n

Elliptic's analysis focused on businesses whose cryptocurrencies were transferred to wallets associated with North Korea's state-sponsored Lazarus Group \u2014 a notoriously exploitative organization linked to several DeFi projects.<\/p>\n\n\n\n

The United Nations and the U.S. government have repeatedly emphasized how the Asian nation backs cybercrime to fund its missile program. <\/p>\n\n\n\n

According to a U.N. report, hackers in the country plundered over $1 billion in crypto assets in 2022, more than double the amount they stole in 2021.<\/p>\n\n\n\n

In the meantime, the Nikkei-sponsored analysis revealed that the state-sponsored hackers also targeted Japan, Vietnam, and Hong Kong.<\/p>\n\n\n\n

Japan as the primary target for North Korean hackers<\/h2>\n\n\n\n

According to the analysis, hackers stole $2.3 billion worth of crypto assets from businesses around the globe in the past five years.<\/use><\/svg><\/span><\/a><\/p>\n\n\n\n

Japan<\/a> is a major target for these hackers, who have stolen $721 billion from Japanese businesses, representing 30% of their illicit wealth. Vietnam followed; they seized $540 million and $281 million from Hong Kong.<\/p>\n\n\n\n

The study revealed that hackers relied on ransomware payments and hacking to acquire illicit funds. In some cases, they stole directly from crypto exchanges or exploited the vulnerability in cross-chain DeFi projects like Horizon. <\/p>\n\n\n\n

In particular cases, they compromised businesses' data and demanded cryptocurrency ransoms.
<\/p>\n\n\n\n

U.S. authorities Intensify scrutiny of DeFi exploiters<\/h3>\n\n\n\n

Eun Young Choi, a U.S. Department of Justice (DOJ) representative, stated earlier today<\/use><\/svg><\/span><\/a> that the federal agency would increase its scrutiny of DeFi exploiters due to the prevalence of hackers backed by North Korea.<\/p>\n\n\n\n

Choi stated that the DOJ was collaborating with other agencies and regulators to identify and prosecute individuals who use DeFi platforms for illicit purposes.<\/p>\n\n\n\n

In addition, he cautioned that users of DeFi should be aware of the risks and responsibilities associated with using these platforms, such as complying with anti-money laundering and sanctions laws.<\/p>\n","protected":false},"excerpt":{"rendered":"

Since 2017, hackers sponsored by North Korea have stolen nearly $500 million worth of cryptocurrencies from U.S. companies, according to a new analysis. According to a Nikkei-sponsored Elliptic analysis , since 2017, North Korean hackers have stolen $497 million in cryptocurrencies from U.S. businesses. Elliptic’s analysis focused on businesses whose cryptocurrencies were transferred to wallets […]<\/p>\n","protected":false},"author":44,"featured_media":49683,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[11476],"tags":[12820,4337],"class_list":["post-49677","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hacks-and-scams","tag-defi-hacks-2","tag-north-korea"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/05\/crypto-hacker-north-korea.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/49677","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=49677"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/49677\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/49683"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=49677"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=49677"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=49677"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}