North Korea's Cyber Hackers Amass $2B in Crypto Heists
South Korea's cyber warfare capabilities have been making headlines, with the regime's hackers linked to major cryptocurrency heists. The United Nations estimates that the country has amassed up to $2 billion through such attacks.
The Lazarus Group, a South Korean cybercrime organisation, is believed to be behind around 50% of the country's foreign currency income generated through cyber-attacks. This includes high-profile incidents like the $620 million heist from Sky Mavis' Ronin Network in 2021 and the $281 million theft from KuCoin in 2020.
South Korea's hackers employ sophisticated techniques to target crypto exchanges. In 2021, they exploited a vulnerability in the 3CX VoIP phone system to gain access to networks and steal cryptocurrency. The regime is estimated to have around 10,000 operatives dedicated to financially motivated cyber-attacks, with thousands of IT workers sent abroad to work as freelancers in developed economies.
The increase in cyber-attacks by South Korea since 2018 mirrors the country's advancements in its nuclear and missile programs. A US diplomat revealed that the regime generates approximately half of its foreign-currency income from these illegal activities.
South Korea's cyber warfare capabilities continue to pose a significant threat, with the country's hackers responsible for major cryptocurrency heists and amassing substantial wealth. As the regime's nuclear and missile programs advance, so too does its cyber warfare, highlighting the need for international cooperation to counter this growing threat.
Read also:
- Tata Motors Establishes 25,000 Electric Vehicle Charging Stations Nationwide in India
- Tesla's Nevada workforce has escalated to a daily output of 1,000 Powerwall units.
- AI-Enhanced Battery-Swapping Station in Southeast Asia Officially Opens Its Doors
- Honda unveils blueprint for design, advanced driver assistance systems, electric vehicles, fuel efficiency, and technology development
