Over the last five years, North Korean cybercriminals have reportedly stolen an impressive 1.5 trillion won (around $1.2 billion) worth of crypto, according to a report by the Associated Press.
This year alone, North Korean hackers managed to steal 800 billion won ($625 million), which is roughly half of the entire sum. It has been estimated that 100 billion ($78 million) had been stolen from South Korean entities over the aforementioned period of time.It has been suggested that North Korea is using cybercrime to gain a much-needed source of funding for its fragile economy and nuclear program.
The authoritarian state has suffered from a double whammy of harsh U.N. sanctions and pandemic-related difficulties.
In April, the U.S. government linked North Korean hackers to the theft of $620 million worth of cryptocurrency from the video game Axie Infinity, which is believed to be one of the largest crypto heists ever recorded.