Hacks and thefts are some of the drawbacks that come from the wider advantages of the crypto industry, due to the anonymity of crypto transactions. According to a new report, state-sponsored hackers from North Korea have stolen around $3 billion in digital currency since 2017, with approximately 44% of stolen cryptocurrency in 2022 traced to these hackers.
Intelligence Report Reveals Amount Of Crypto Stolen By North Korean Hackers
The crypto industry started gaining mainstream attention in 2017, as investors flocked into the nascent industry. However, it would seem the inflow of money and adoption also attracted many bad actors. A recent report from intelligence company Recorded Future has reiterated a common belief in crypto, showing how hackers from North Korea have targeted the industry in recent years.
Many Illicit activities have been attributed to North Korea over the years. Estimates in 2016 noted that illicit economic activities generate $550 million to $1 billion annually for the country. The report from Recorded Future found that North Korean hackers backed by the country’s government shifted their attention from traditional finance to crypto around the 2017 bubble when money started flowing into the industry.
With syndicates like the Lazarus Group at the helm of many hack attacks, these hackers have been able to…
