North Korean Hackers Amass $180 Million in Cryptocurrency in 2023 So Far

2023/08/18 14:31

The National Intelligence Service (NIS) of South Korea reveals that North Korean hackers have secured over $180 million in cryptocurrency during the first half of this year, further adding to the alleged total of $1.5 billion in virtual assets stolen since 2015.

The NIS states that information from around 1,000 local credit card accounts has been compromised.

Representative Yoo Sang-beom highlights the swift implementation of security measures by the agency.

Russian officials, including Defense Minister Sergei Shoigu, continue to engage in discussions with North Korean leader Kim Jong-un, potentially signaling a broader plan for military collaboration, according to Representative Yoo.

The NIS points out a surge in smuggling activities by North Korea, with drug trafficking tripling in the first half of this year compared to the same period last year.

There's also a significant uptick in gold bar volumes, witnessing a 50% increase.

The agency underlines North Korea's economic challenges, with a 12% decline in GDP in 2022 compared to 2016.

This economic downturn has caused a notable rise in grain prices and reports of 240 cases of starvation between January and July.

Despite North Korea's "war on crime" declaration this year, the NIS suggests minimal impact.

Concerns also arise about potential transfers of Russia's core nuclear and missile technology to North Korea.

In response to citizen complaints, North Korea establishes a task force to identify dissatisfied individuals.

The NIS closely monitors these developments and the potential military cooperation between North Korea and Russia.

North Korea is known for hackers, notably the Lazarus Group, which refers to a cybercrime organization believed to be operating from North Korea.

This group is known for its involvement in various cyberattacks, including hacking into financial institutions, conducting cyber espionage, and even engaging in activities like cryptocurrency theft.

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