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North Korean hackers stole more cryptocurrencies in 2022 than in any previous year, according to a confidential UN report obtained by Reuters on Monday. Targeting the networks of global aerospace and defense industries, hackers with ties to North Korea stole crypto assets worth between $630 million and $1 billion last year, the UN report disclosed.
North Korean Hackers Controlled By Reconnaissance General Bureau
The majority of alleged cyber attacks were masterminded by entities controlled by the Reconnaissance General Bureau, North Korea’s premier intelligence body, according to sanctions monitors. The Kimsuky, Lazarus, Andariel, and other North Korean hackers took orders from RGB and were being tracked by international cybersecurity agencies, according to the sanctions team. The sanctions sentinels stated that the groups used malware through a variety of means, including phishing. One such effort targeted employees in organizations in the public and private sectors in multiple nations.
Chainalysis Drew Similar Observations
Last week, a study by the blockchain analytics firm Chainalysis reached a similar conclusion, attributing North Korean hackers to at least $1.7 billion in stolen crypto assets in 2022, making it the worst year ever for crypto hacking. The figure is nearly four times the previous record for digital currency theft in the country, which was over $430 million in 2021. The haul also accounted for 44% of the $3.8 billion stolen in crypto thefts in 2022, which the company described as “the largest year ever for crypto hacking.” In January this year, the FBI verified that Lazarus Group, which has ties to North Korea, orchestrated a $100 million crypto theft on the Horizon bridge blockchain network in 2022. Globally, it is anticipated that cybercrime would cost $11 trillion yearly by 2025. According to a report by Purplesec US, the global yearly damages as a result of cybercrime is projected to be $6 trillion per year.