North Korea hacked US$2 billion worth of cryptocurrency this year… 50% increase in a year
Summary
- Chainalysis said that North Korea hacked US$2 billion worth of cryptocurrency this year.
- Bloomberg reported that this figure has risen by more than 50% over the past year.
- It said North Korea's cryptocurrency hacks account for a significant portion of the industry's losses, and profits from these are used to support the North Korean regime.
North Korea reportedly hacked US$2 billion (about 3 trillion won) worth of cryptocurrency this year.
On the 18th (local time), Bloomberg reported that blockchain analysis firm Chainalysis released a report with these findings. According to the report, the cryptocurrency stolen by North Korean hackers this year (US$2 billion) has increased by more than 50% over the past year. Bloomberg said, "North Korea's cryptocurrency hacks account for a substantial portion of the industry's US$3.4 billion in losses this year."
North Korea's cumulative cryptocurrency thefts have been calculated at at least US$6.75 billion. Andrew Peerman, Chainalysis's head of national security intelligence, told Bloomberg, "Cryptocurrency hacks have become a profitable means of funding for North Korea," adding, "As a result, (cryptocurrency) hacking proceeds are used to support the North Korean regime and to strengthen their weapons of mass destruction programs."
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
