How Hacking Superpower North Korea Is Threatening The Crypto World

How Hacking Superpower North Korea Is Threatening The Crypto World

Tokyo 2022 is a dire year for the crypto world. This is due not only to a long series of scandals such as the collapse of the FTX exchange, but also to North Korean dictator Kim Jong Un, at least according to Western law enforcement and crypto experts.

Because 2022 has been successful so far for North Korean crypto thieves. The country’s government hackers are said to have stolen $840 million worth of virtual currency in the first nine months of the year, more than any private or state hacking group before it, according to calculations by analysis house ChainAnalysis.

For comparison: Chainalysis estimates that the sum of all crypto thefts worldwide in the first three quarters of 2022 is about three billion dollars. In addition to the spectacular bankruptcy of FTX and the resulting domino effects, North Korea has become one of the biggest threats to the crypto world.

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