North Korean hackers said to have stolen nearly $400 million in cryptocurrency last year

Hackers launched no less than seven completely different assaults last year, primarily focusing on funding companies and centralized exchanges with a wide range of techniques, together with phishing, malware and social engineering, in accordance to the report from Chainalysis, a agency that tracks cryptocurrency. The cybercriminals labored to acquire entry to organizations' "hot" wallets — digital wallets which might be linked to the web — after which transfer funds into DPRK-controlled accounts. "North Korea is, in most respects, cut off from the global financial system by a long sanctions campaign by the US and foreign partners." said Nick Carlsen, analyst at blockchain intelligence agency TRM Labs. "As a result they have taken to the digital battlefield to steal crypto in, essentially, [a] bank robbery at the speed of the internet, to fund weapons programs, nuclear proliferation and other destabilizing activities."