North Korean hackers steal 400 million in crypto during 2021

The attack was made to several platforms

According to a Chainalysis note, who keeps a record of all attacks of this type, I can confirm this information. During the year 2021, 7 attacks on various cryptocurrency platforms were recorded and hackers managed to extract a sum of 400 million dollars.

Let us remember that the North Korean government has large sanctions imposed by different countries due to its nuclear program. This has limited the income of money to the coffers of the state.

In this way, the powers of the world seek to stop the advances that the government has had in this matter.

This has led the North Korean government to seek other forms of financing, and cyberattacks have paid off.

All the money made by the hackers ends up in an account owned by the government. This was also confirmed by the firm that tracked the movements of the money.

This was not the first time North Korean hackers have been embroiled in cyberattacks. In fact, the country is listed as a "persistent threat."

As has been known, North Korea has around 6,000 hackers 100% dedicated to finding vulnerabilities and committing cybercrimes.

Despite the fact that technology is very limited in the country, this group has advanced hacking knowledge and equipment that is good enough to achieve its goal.

What does the government do with those cryptocurrencies?

All cryptocurrencies that fraudulently reach the coffers of the North Korean government are "laundered" by specialists. Then, all the money ends up in different places, most of that money ends up being diluted in corruption.

However, another part of the money goes to the military sector, mainly to nuclear development. Let's remember that North Korea has used its military program as a kind of "insurance" to prevent other countries from getting involved with the country's policies.

In any case, 2021 turned out to be one of the most lucrative years for hacking in North Korea. All this has caused some main cryptocurrency operators in the world to strengthen their security to prevent hacking.