Crypto Loot Fuels Foreign Earnings
A UN investigation has revealed that North Korea has been using cyberattacks on crypto companies to earn foreign currency. These attacks have reportedly generated around 50% of the country’s foreign earnings, which are used to fund weapons development.
Adapting to Changing Cyber Landscape
Despite a decline in the value of stolen assets, North Korean hackers have adapted to security measures by using more sophisticated tactics. They have also been using tools like Tornado Cash to launder stolen Ethereum.
Tornado Cash Laundering
The Lazarus Group, a notorious North Korean hacking group, has been using Tornado Cash to launder stolen Ethereum. This is because law enforcement has cracked down on other large-scale mixing services.
Conclusion
North Korea’s cyberattacks on crypto companies are a significant source of funding for its weapons development programs. The country has adapted to changing cyber security measures and continues to use sophisticated tactics to steal crypto assets.
