North Korean hackers have reportedly stolen over $3bn in cryptocurrency attacks over a span of five years, The Wall Street Journal reports. U.S. officials claim that this stolen money is used to finance approximately 50% of North Korea's ballistic missile launch program.
Sky Mavis Studio, a developer of blockchain games, fell victim to a cyber attack. During a job search, one of the company's employees contacted an individual posing as an employer on the LinkedIn social network. After a phone conversation, the "employer" sent a document to the job applicant, which turned out to be a "Trojan horse" enabling North Korean hackers to breach Sky Mavis' security and steal over $600mn.
Most of the funds were taken from players of the game Axie Infinity. Sky Mavis has provided compensation to those affected by the cyber attack.
"There was a significant increase in attacks last year that targeted major cryptocurrency infrastructure worldwide, including Sky Mavis," - stated Ann Neuberger, the U.S. Deputy National Security Advisor.
North Korea initiated its first major cryptocurrency attacks in 2018. The Center for Nuclear Non-Proliferation Studies reported over 42 successful attacks in 2022.
Around 50% of North Korea's missile program funding is currently derived from cyber operations, Neuberger informs. U.S. officials claim that "thousands of DPRK IT specialists" are employed worldwide, including in Russia and China, contributing to these efforts.
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