UN Links North Korea to $281m Crypto Exchange Heist
Last September, the KuCoin cryptocurrency exchange experienced a cyberattack in which hundreds of millions of dollars in digital money was stolen. The United Nations recently released a report strongly suggesting that North Korean actors were behind the cyberattack, claiming that investigators had revealed the identifies of the attackers. Although this information remains private until the case is fully closed, the UN reported that preliminary analysis based on attack vectors and efforts to launder the cryptocurrency suggests that North Korea was behind the ordeal.
CEO of KuCoin Johnny Lyu reported that $281 million in cryptocurrency had been stolen from the Singapore headquartered company, however, $204 million was recovered within a week. Blockchain records also reveal that the same attackers were behind a separate raid consisting of the theft of $23 million in cryptocurrency. The state actors attempted to bypass larger crypto trading platforms, which alerted researchers to the incident.