2 years ago
An Elliptic study commissioned by Nikkei says Asian countries relationship for implicit 60% of losses to North Korean hacker and ransomware users; lax information played a role.
Japan is the biggest loser of cryptocurrency to North Korean hackers, according to a survey by blockchain expert Elliptic. Asian countries marque up 3 of the 4 apical targets for the alleged Hermit Kingdom’s hackers, Elliptic found.
The study, commissioned and reported connected by Japanese fiscal work Nikkei, looked astatine losses of cryptocurrency from cyberattacks originating successful North Korea from 2017 done 2022. The survey took into relationship some hacking and ransomware attacks. It described the attacks arsenic a “national strategy.”
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Japan suffered losses of $721 cardinal successful those attacks, which was 30% of the satellite full of implicit $2.3 billion, Elliptic found, based connected an estimation of $640 cardinal of crypto mislaid successful 2022. According to the United Nations, North Korean crypto theft reached a caller high successful 2022. Nikkei said:
“According to the Japan External Trade Organization, the $721 cardinal stolen from Japan is 8.8 times greater than the worth of North Korea's exports successful 2021.”Vietnam was the second-most attacked country, according to the report, losing $540 cardinal successful that timespan. The United States was 3rd with $497 successful losses, and Hong Kong trailed successful 4th spot with losses of $281 million.
Elliptic: North Korean hackers stole $2.3B successful crypto from businesses from 2017 to 2022, including $721M from Japan, $497M from the US, and $281M from Hong Kong (Nikkei Asia)https://t.co/abeNfsBd5khttps://t.co/undE8tEmJq
— Techmeme (@Techmeme) May 15, 2023Elliptic pointed to lax information successful Japanese and Vietnamese cryptocurrency markets arsenic the rationale for the hackers’ targeting. Nikkei cites an unnamed sources arsenic saying astatine slightest 3 Japanese crypto exchanges person been breached into betwixt 2018 and 2021.
North Korea’s Lazarus Group has been down immoderate of the biggest heists successful crypto, specified arsenic the Ronin Bridge exploit and the Harmony Bridge hack. North Koreans person besides been alleged to bargain nonfungible tokens (NTFs) and to launder their stolen funds done decentralized concern services and crypto mixers.
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