Crypto Mufasa
Advertise
  • Crypto News
    • General News
    • Bitcoin News
    • Altcoin News
    • Ethereum News
  • NFT NEWS
  • Beginner Guides
  • Price Predictions
  • Crypto Prices
No Result
View All Result
  • Login
  • Register
  • Crypto News
    • General News
    • Bitcoin News
    • Altcoin News
    • Ethereum News
  • NFT NEWS
  • Beginner Guides
  • Price Predictions
  • Crypto Prices
No Result
View All Result
Crypto Mufasa
No Result
View All Result

Home » Cryptocurrency Crimes By North Korea Doubled In 2022

Cryptocurrency Crimes By North Korea Doubled In 2022

Hania by Hania
April 7, 2023
in Bitcoin News, General News
Reading Time: 3 mins read
A A
0
North Korean Hackers’ Crypto Theft Strategy Exposed
Share on FacebookShare on Twitter
ADVERTISEMENT

Table Of Content:

Toggle
  • Rise in Crypto-Hacks
  • North Korea uses DeFi to Launder Money 
  • Crypto Firms Were Targeted By Hackers 

Summary

  • A United Nations hacker from North Korea has stolen approximately $1 billion in crypto assets, as per a U.N. report.
  • The figure exceeds twice the amount of stolen funds in 2021.
  • The U.S. Treasury stated that North Korea was using DeFi to launder money.

The United States Security Council’s annual report shows that North Korea has allegedly acquired nearly $1 billion in cryptocurrencies. According to the report, the estimated value of the theft ranges from $630 million to over $1 billion. This is double the amount that was stolen in 2021.

Rise in Crypto-Hacks

According to a report by the Security Council, North Korea stole roughly $1 billion in crypto. The entire amount is double what was stolen in 2021. Recently, the United States Treasury stated that North Korea was using DeFi to launder money.

Cryptocurrency Crimes By North Korea Doubled In 2022
Source: Chainalysis

Numerous industry reports suggest that North Korea implements sophisticated crypto crime techniques. Regarding this new trend, the report says:

You May AlsoLike

Polymarket Bets

March 2025 Polymarket Bets Boom for Bitcoin, XRP, ETH, AI, and DOGE – The Future of Cryptocurrency Trading!

March 1, 2025
Ethereum’s Pectra Upgrade

3 Essential Insights from Recent Developer Call on Ethereum’s Pectra Upgrade

March 1, 2025

“(North Korea) applied increasingly sophisticated cyber techniques to gain access to digital networks involved in cyber finance and to steal potentially valuable information, including for its weapons programs…”The techniques implemented by cyber threat attackers have become more sophisticated, making it more difficult to track down stolen funds.”

The report urges the participating countries to adopt money laundering prevention guidelines. Interestingly, the panel revealed that an investigation has been opened into the apparent export of military communications equipment to Russia. North Korea strongly rejects committing any wrongdoing, but sanctions continue to build.

North Korea uses DeFi to Launder Money 

The Treasury of the United States has additionally addressed illicit financial activity in the DeFi space. In a press release dated April 6, the department stated that North Korea was laundering money using DeFi.

Also Read: Sentiment DeFi Platform Lost $1 Million To A Hacker On Arbitrum

It acknowledges the “potential benefits associated with DeFi services” but highlights the necessity to address money laundering risks. It requests that the private sector use its assessment to take action against any illicit financial activity.

Crypto Firms Were Targeted By Hackers 

Cryptocurrency Crimes By North Korea Doubled In 2022

Hackers from North Korea have targeted crypto companies. The breach of the VoIP application 3CX resulted in the infiltration of several crypto companies by hackers. The software is being used by approximately 600,000 companies.

Ultimately, hackers use the supply chain breach to infect systems with more malicious software. Since it is evident that the country will continue its cyber operations, both crypto companies and governments have legitimate concerns.

DISCLAIMER

CryptoMufasa is committed to impartial, clear communication  This article attempts to provide timely and accurate information. Before making decisions based on this content, however, readers are advised to independently verify all facts and consult with a professional.

Recommended:

North Korean Hackers Attempt To Launder $27 Million In ETH From The Harmony Bridge Attack

Lazarus: North Korean Hackers Group Moves $64M ETH from Harmony Bridge Hack

Tags: crypto crimeDeFiNorth Korea
Share79Tweet50
ADVERTISEMENT
Previous Post

Dogecoin (DOGE) Falls By 9% As Twitter Restores Its Original Logo

Next Post

Ethereum (ETH) Shanghai Upgrade Has Captured Market Interest Ahead Of Its Launch

Hania

Hania

Hania is a 30-year-old blogger who used to be a teacher before entering the world of writing. She is originally from India and has been writing blogs on various topics for 2 years now. Hania is particularly interested in exploring the intersections of finance, technology, and cryptocurrency. Her experience as a teacher has given her unique insights into the ways in which digital media can be used to facilitate learning and engagement. Through her writing, Hania hopes to share her knowledge and learning of crypto industry with everyone.

Related Posts

Polymarket Bets
General News

March 2025 Polymarket Bets Boom for Bitcoin, XRP, ETH, AI, and DOGE – The Future of Cryptocurrency Trading!

March 1, 2025
Ethereum’s Pectra Upgrade
General News

3 Essential Insights from Recent Developer Call on Ethereum’s Pectra Upgrade

March 1, 2025
Cramer Suggests Saylor Should Plan for a Strategic Bitcoin Reserve
General News

Cramer Suggests Saylor Should Plan for a Strategic Bitcoin Reserve

February 28, 2025
MetaMask Ethereum Wallet Expands Support for Both Bitcoin and Solana
Crypto Wallets

MetaMask Ethereum Wallet Expands Support for Both Bitcoin and Solana

February 28, 2025
Bitcoin Bull Run Could Continue, says CryptoQuant CEO - Unless This Critical Threshold Is Breached
General News

Bitcoin Bull Run Could Continue, says CryptoQuant CEO – Unless This Critical Threshold Is Breached

February 28, 2025
Solana Futures Launch at CME Boosts Price Amid High Demand
General News

Solana Futures Launch at CME Boosts Price Amid High Demand

February 28, 2025
Next Post
Ethereum (ETH) Shanghai Upgrade Has Captured Market Interest Ahead Of Its Launch

Ethereum (ETH) Shanghai Upgrade Has Captured Market Interest Ahead Of Its Launch

Discussion about this post

Live Prices

You have not selected any currency to display

Stay Connected

You May Also Like

  • Bitcoin Halving Update: Bitwise CEO's $100k Price Projection Sparks Excitement

    Why the Bitcoin Halving Is Happening Sooner Than Anticipated

    239 shares
    Share 96 Tweet 60
  • MetaMask Ethereum Wallet Expands Support for Both Bitcoin and Solana

    197 shares
    Share 79 Tweet 49
  • March 2025 Polymarket Bets Boom for Bitcoin, XRP, ETH, AI, and DOGE – The Future of Cryptocurrency Trading!

    196 shares
    Share 78 Tweet 49
  • OKB Price Prediction 2023 – 2030: Will OKB reach $200?

    201 shares
    Share 80 Tweet 50
  • November’s Bitcoin Price Forecast: A Bullish Odyssey

    196 shares
    Share 78 Tweet 49
  • About Us
  • Contact Us
  • Work With Us
  • Privacy Policy
  • Terms Of Service

© 2022-2024 CryptoMufasa - All Rights Reserved!

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

*By registering into our website, you agree to the Terms Of Services and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • General News
  • Beginner Guides
  • Bitcoin News
  • Ethereum News
  • Altcoin News
  • NFT News
  • Price Predictions
  • Google News

© 2022-2024 CryptoMufasa - All Rights Reserved!

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Don’t Miss Out on the Best in Crypto!

Stay ahead with a weekly digest of the top news and insights—no spam, no ads, just the essential updates delivered straight to your inbox. Subscribe now for valuable content you can trust!

johnsmith@example.com
subscribe to email

Never see this message again.