North Korean hackers steal $550m in crypto

North Korean hackers steal $550m in crypto

North Korea’s cryptocurrency crimes on a ‘massive scale’ North Korea is laundering the stolen funds and using them to fund the country’s weapons of mass destruction and ballistic missile programs. North Korea launched at least seven attacks on cryptocurrency platforms stealing a whopping $550 million last year, marking one of its most successful years to date, a new report has revealed. It describes the country as one “that supports cryptocurrency-enabled crime on a massive scale”. Disturbingly, the revenue generated from these hacks goes to support North Korea’s weapons of mass destruction and ballistic missile programs, according to the UN Security Council. Since 2018, some of the most successful hacks have included one on trading platform KuCoin and another on an unnamed cryptocurrency exchange, with each netting more than $350 million …
More on: www.news.com.au