South Korean intelligence: “North Korean hackers have stolen $1.2 billion in cryptocurrencies since 2017”

According to South Korean intelligence, in 2022, hacker groups associated with North Korea stole $626 million worth of cryptocurrencies, and in total since 2017, $1.2 billion worth of assets have been stolen during attacks. In their report, intelligence officers emphasized that since 2017, assets worth $78 million were stolen from South Korean cryptocurrency exchanges. At the same time, thanks to the constant work to tighten control over companies, in 2022, North Korean hackers never managed to steal cryptocurrencies from South Korean users. “In South Korea, transactions with virtual assets began to be signed with real user names, and security was also strengthened. Therefore, we have no damage,” said an intelligence (NIS) spokesman in an interview with local newspaper Kyunghyang Shinmun. The vast majority of assets are stolen from decentralized applications. Half of the funds stolen from DeFi were stolen as a result of hacking internet bridges. Recall that in 2021, South Korea introduced mandatory identity verification for cryptocurrency traders.. In addition, regulators have required traders to create accounts in the same bank where the cryptocurrency exchange stores funds, otherwise deposits and withdrawals will be prohibited.. At the same time, the verification of the client must be carried out by both the bank and the exchange. Earlier, the authorities of the South Korean city of Busan announced the abandonment of plans to cooperate with cryptocurrency exchanges.. The decision is connected with the collapse of the FTX exchange.