January 14, 2022

North Korea stolen over RM1.6 billion crypto currencies!

 North Korean hackers have reportedly stolen a large number of crypto currencies worth about $ 395 million (RM 1.65 billion), involving at least 7 cyber attacks in 2021.

It is understood that the attack was headed by the Hackers Group, Lazarus who received support from major Korean intelligence agencies, Reconnaissance General Bureau.

As a record, Lazarus is also the main suspect of the Sony Pictures hacking incident in 2014 and a ransomware attack against Wannycry in May 2017.

According to Chainalysis, the attack was addressed to several major investment firms and centralized exchange platforms.

They use some tactics such as phishing, code ecploits, bug attacks, and social engineering system abilities to pull out funds from Hot Wallets and put in a DPRK-controlled Wallet.

Stolen assets mostly consisted of 58% Ethereum (ETH) and 20% Bitcoin (BTC). The rest is ERC-20-based tokens and Altcoins.

Interestingly, they produce stolen funds using the decentralizational financial platform (defi) as this entity offers asset liquidity without asking for user information (KYC).

Based on the statement from the United Nations Security Council, it is possible that these stolen funds are aimed at supporting the WEAPON OF MASS DESTRUCTION (WMD) and ballistic missile programs.