• 21 November, 2024
News

North Korea’s Cryptocurrency Hacks Reached New Heights in 2022

North Korea’s Cryptocurrency Hacks Reached New Heights in 2022

North Korea has increased its cyber attacks on foreign aerospace and defense companies, leading to the theft of more cryptocurrency assets in 2022 than in any previous year, according to an exclusive United Nations (UN) report shared by Reuters. 

The report, submitted to the UN Security Council committee, was written by independent sanctions monitors who have previously accused North Korea of using cyberattacks to fund its nuclear and missile programs. 

In 2022, hackers with ties to North Korea stole virtual assets worth $630 million, according to the monitors, while a cybersecurity company put the figure at much over $1 billion.

Various teams, such as Kimsuky, Lazarus Group, and Andariel, were under the command of North Korea’s chief intelligence agency, the Reconnaissance General Bureau, and were responsible for most cyber assaults.

In the past, these organizations have persisted in pursuing their victims in an effort to glean information useful to the North Korean government, particularly on its weapons programs. According to the report, a phishing effort was used by the organizations to spread malware to workers in several nations.

The monitors also said that a North Korean-linked group known as HOlyGhOst had extorted ransoms from small- and medium-sized companies in several countries.

The UN sanctions monitors also noted that North Korea has continued its production of nuclear fissile materials and launched at least 73 ballistic missiles, including eight intercontinental ballistic missiles, in 2022. 

Despite being banned from conducting nuclear tests and ballistic missile launches and facing UN sanctions, North Korea has continued to evade the sanctions by carrying out illicit imports and exports.

Authorities in the United States also linked North Korean hackers to the theft of hundreds of millions of dollars worth of cryptocurrency in the popular online game Axie Infinity.

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