White House Claims North Korea Used Stolen Crypto to Fund Missile Programs
An anonymous official from the White House has recently talked about the use of cryptocurrencies by hackers in North Korea. The administrator has claimed that the state of North Korea has managed to heist a considerable amount of cryptocurrencies.
According to the US official, the hackers have used their crypto loot to fund the national missile program. These cryptocurrencies are used to perform missile tests that are collected via online theft.
The data projections from Chainalysis suggest that hackers managed to collect around $1.7 billion worth of digital currencies last year. This report has also mentioned the most notorious hacking group named Lazarus which participated and facilitated around $625 million by attacking the Ronin network. The attack is often ranked among the biggest crypto heists of all time.
Democratic People’s Republic of Korea has plans to become one of the top military giants in the world. It is among the few nations in the world that have mastered nuclear power. The government is under the reign of Kim Jong Un.
The state has adopted all the measures and ways to update its weapon arsenal and has been working on the missile program. To this end, the government has conducted various tests since last year.
Biden Administration to Monitor North Korean Hackers
Anne Neuberger is the Deputy National Security Advisor for cyber security and tech innovations. She has recently told the media that the Biden administration has become alert about the North Korean hackers.
The American government officials are working on understanding how the hackers from the region have managed to steal such a huge amount of crypto reserves.
She also informed the media that USA intelligence is currently working on finding out the threat actors and retracing the stolen assets for a recovery mission.
Kim Jong Un has claimed that the experiment is going to put fear in rivals of the nation. Meanwhile, North Korean hackers continue to target cryptocurrency wallets and online reserves to add to their billion-dollar bounty. FBI has reported that Lazarus was part of the $625 million hack attack on the Ronin network that toll place last year.
On this account, some private cybersecurity firms such as Chainalysis that specialized in blockchain metrics have also corroborated the findings. One report issued by the firm has revealed that North Korean hackers have managed to collect around $1.7 billion in cryptocurrencies using hack attacks.
MistTrack is a compliance network that reported that Lazarus Group also played an important role in stealing $100 million from Harmony protocol in the form of digital currencies. Blockchain analytics firm Elliptic Enterprise has also seconded the findings.
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