Stolen cryptocurrency funds are reportedly funding more than half of North Korea's nuclear and missile programs.
Study Reveals Massive Crypto Crime
A recent study by Microsoft revealed that North Korean hackers have stolen over $3 billion in cryptocurrency since 2017. In 2023 alone, the amount stolen in crypto ranges between $600 million and $1 billion.
The 2024 Microsoft Digital Defense Report highlights the complexity of global cyber threats, driven by the rising number of crypto-targeted attacks.
Cryptocurrencies Financing North Koreaâs Weapons Programs
According to the report, the stolen crypto funds are allegedly used to finance more than half of North Korea's nuclear and missile programs. Anne Neuberger, the White House National Security Advisor, noted that North Korea is increasingly relying on these tactics.
North Korea uses cryptocurrencies to evade international sanctions and support its ambitions to project geopolitical power through nuclear weapons and ballistic missiles.
Major North Korean Hacking Groups
Since 2023, Microsoft has identified three key North Korean hacking groups: Jade Sleet, Sapphire Sleet, and Citrine Sleet. These groups have been particularly active in targeting organizations dealing with cryptocurrencies.
Additionally, a new North Korean threat actor, Moonstone Sleet, developed its own ransomware called FakePenny. This ransomware was deployed in defense and aerospace organizations after extracting sensitive data from compromised networks.
Microsoft analysts noted that the emergence of these threat groups signals an increasing reliance on cybercrime to bolster North Korea's financial resources.
Other Threats: Iranian and Russian Hacking Groups
In addition to North Korean hackers, the Microsoft report identified Iranian threat actors who are increasingly using cyber operations for financial gain.
The report points out that this marks a shift from previous behavior, where ransomware attacks that appeared financially motivated were actually destructive.
Iran has heavily focused on Israel, especially after the outbreak of the war between Israel and Hamas. Iranian actors are also targeting the United States and Gulf countries, including the United Arab Emirates and Bahrain.
Meanwhile, Russian hacking groups have been integrating more commodity malware into their operations and supporting cyber espionage efforts for criminal organizations.
#cyberattacks , #Cryptoscam , #digitalsecurity ,#northkorea , #CryptoNewsđđ„
Stay one step ahead â follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.â
