This is how North Korean crypto hackers fund their regime

North Korea has been one of the most active nations behind several of the cryptocurrency hacks taking place over the last year. In mid-August, US-based blockchain analysis company Chainalysis suggested that hackers stole more than $1.9 billion (€1.9 billion) during the first seven months of 2022. Of this total money lost in crypto hacks, the “bad actors affiliated with North Korea, especially elite hacking units like Lazarus Group” stole over $1 billion. These notorious hackers of North Korea have been targeting crypto investors in a number of ways. Recently, they have been pretty focused on targeting decentralized finance (DeFi) protocols. This is because a large number of DeFi protocols use open source code which can be studied by their weaknesses and later exploited by cybercriminals. Speaking to the DW publication, a South Korea-based analyst for a digital asset investment firm said: Crypto hacks have been getting bigger year on year simply because the TVL [total value locked]in DeFi has been growing consistently.

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