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Seeking Alpha 2023-02-07 16:10:47

Crypto theft in North Korea reportedly hits record high last year

2022 was a record-breaking year for the value of cryptocurrency stolen by North Korean-linked hackers, Reuters reported earlier this week, citing a report by the United Nations. The hackers were estimated to have stolen $630M worth of crypto during the year, according to South Korea, while a cybersecurity firm took note of more than $1B robbed. A majority of cyber attacks were conducted by groups controlled by the Reconnaissance General Bureau, North Korea's main intelligence agency. Those groups included hacking teams known by names such as Kimsuky, Lazarus Group and Andariel. "These actors continued illicitly to target victims to generate revenue and solicit information of value to the DPRK [Democratic People's Republic of Korea] including its weapons programmes," the U.N. report said, as quoted by Reuters . In August 2022, the U.S. Treasury Department sanctioned crypto mixer Tornado Cash over its alleged use in laundering virtual currency stolen by North Korean hackers.

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