The White House claims that in the previous two years, North Korean hackers were able to “take more than $1 billion” due to “security weaknesses” in the cryptocurrency business. Additionally, the US claims that Pyongyang used the money to boost its missile program.
The assertion was made in a statement released by the government, and it was covered by VOA Korea and Munhwa Ilbo in South Korea. According to a statement made by the White House, weak cybersecurity throughout the business” “allowed” North Korea to “take over a billion dollars to fuel its ambitious missile program
Across the board, it criticized “poor cybersecurity” protocols. Additionally, it stated that the White House “remains committed” to making sure cryptocurrencies cannot undermine financial stability, protecting investors, and holding bad actors accountable.
Increased efforts were being made by American authorities to stop illegal activity exploiting digital assets.
According to Alejandro Mallorcas, the US Secretary of Homeland Security, North Korea “financed” its “weapons of mass destruction programs” by “cyber-hackers” over $1 billion in cryptocurrency and fiat over the course of the previous 24 months.
According to Anne Neuberger, the deputy adviser for cyber and new technologies at the White House, Pyongyang is putting “up to a third” of the cryptocurrency it “steals” into its missile programs.
Increasing Crypto Hacking Efforts in North Korea in 2023?
Recently, the Federal Bureau of Investigation (FBI) asserted that the $100 million Harmony Horizon bridge attack in June 2022 was the work of the cyber collective Lazarus.
Sanctions have been imposed by the Treasury on cryptocurrency-mixing businesses like Tornado Cash. According to the report, Pyongyang allegedly uses cryptocurrency mixers to conceal stolen cryptocurrency funds.
This month, a North Korean hacker was accused of attempting to access cryptocurrency accounts by disseminating phony job offers and notices of fake wage adjustments, according to an American security company.
Security experts claim that the installer files in the emails are loaded with dangerous code. According to them, the code is intended to assist hackers in compromising cryptocurrency wallets.
