N. Korea-linked hackers hang $ 620 million in crypto theft: FBI TOU

N. Korea-linked hackers hang $ 620 million in crypto theft: FBI

 TOU

N. Korea-linked hackers hang $ 620 million in crypto theft: FBI

Hackers linked to North Korea are responsible for $ 620 million worth of cryptocurrency theft in March 2022.

U.S. officials said Thursday that hackers linked to North Korea were responsible for $ 620 million in cryptocurrency theft last month targeting players of the popular Axie Infinity game.

This hack has had a huge impact on the crypto world, raising huge questions about security in an industry that recently erupted in the mainstream thanks to celebrity ads and promises of unspeakable wealth.

It was stolen last month from the makers of Axi Infinity, where players could earn crypto through gameplay or trading, a similar attack came just weeks after thieves earned about $ 320 million.

“Our investigation has confirmed that cyber actors associated with the Lazarus Group and APT38, (North Korea) were responsible for the theft,” the FBI said in a statement.

The Lazarus group has been accused of hacking Sony Pictures Entertainment in 2014 in retaliation for the satirical film “The Interview” in which North Korean leader Kim Jong Un mocked you.

North Korea’s Internet program has been around since at least the mid – 1990s, but it has grown into a 6,000 – strong cyber-war unit known as Bureau 121, which operates from several countries, including Belarus, China, India, Malaysia and Russia. According to the 2020 U.S. Military Report.

John Pompenek, a threat analyst at digital security firm Netenrich, said North Korea was “unique” in its use of groups dedicated to cryptocurrency theft.

“Cryptocurrency thefts are also a national security interest to them, as North Korea is highly licensed,” he said.

Blockchain data base Chainysis reported in January that North Korean hackers stole about $ 400 million worth of cryptocurrency from cyber-attacks on digital currency outlets last year.

In the Axi Infinity theft case, the attackers exploited the weaknesses in the system behind the game called Sky Mavis from Vietnam.

The company had to solve one problem: Ethereum blockchain, whose transactions are recorded in ether cryptocurrency, is relatively slow and expensive to use.

To allow Axi Infiniti players to buy and sell faster, the company created a game coin and a side chain with a bridge to the main ethereum blockchain.

The result was faster and cheaper — but in the end security was less.

173,600 ether and $ 25.5 million worth of staplecoin, the digital equivalent of US dollars, in the attack targeting its blockchain.


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                                        North Korean hackers to steal $ 400 million in crypto by 2021: Chinesealis
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