At least seven attacks on cryptocurrency platforms launched in North Korea last year. It extracted nearly $400 million (€350 million) worth of digital assets. In a new report Chainalysis said:
“From 2020 to 2021, the number of North Korean-linked hacks jumped from four to seven, and the value extracted from these hacks grew by 40 per cent.”
The report added:
“Once North Korea gained custody of the funds, they began a careful laundering process to cover up and cash out.”
A United Nations panel of experts that monitors sanctions on North Korea has accused Pyongyang of using stolen funds to support its nuclear and ballistic missile programmes to circumvent sanctions.
North Korea does not respond to media inquiries. However, it has previously released statements denying allegations of hacking.
The United States charged three North Korean computer programmers working for the country’s intelligence service last year. The accused was connected to a massive, years-long hacking spree aimed at stealing more than $1.3 billion (€1.14 billion) in money and cryptocurrency. The hacker attack affected companies from banks to Hollywood movie studios.