Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
$3B Worth Crypto Stolen by North Korean Hackers Since 2017: Report

$3B Worth Crypto Stolen by North Korean Hackers Since 2017: Report

CryptoNewsCryptoNews2024/10/17 17:42
By:Sujha Sundararajan

The stolen crypto funds reportedly finance over half of North Korea’s nuclear and missile programs.

Last updated:
October 17, 2024 05:38 EDT

A recent study by Microsoft revealed that North Korean hackers have stolen more than $3 billion in cryptocurrency since 2017. The heists total between $600 million and $1 billion in 2023 alone.

Microsoft’s Digital Defense Report for 2024 highlighted the complexity of the global cyber threat landscape, driven by increasing crypto attacks.

Per the report, unveiled Thursday, the stolen crypto funds reportedly finance over half of North Korea’s nuclear and missile programs. White House Cyber Deputy National Security Advisor Anne Neuberger noted that North Korea’s misuse of these tactics is increasing.

The country uses cryptos “to evade harsh sanctions and support its ambitions to project geopolitical power through nuclear weapons and ballistic missiles.”

Since 2023, Microsoft has identified three major North Korean threat groups Jade Sleet, Sapphire Sleet, and Citrine Sleet. These players have been particularly active in targeting cryptocurrency organisations, it added.

Additionally, Moonstone Sleet, a new North Korean threat actor, developed a custom ransomware variant called FakePenny. The notorious group deployed the ransomware at defence and aerospace organisations after exfiltrating data from the impacted networks.

Microsoft analysts noted that the emergence of threat actor groups suggests an increasing use of cybercriminal tools to boost the North Korean regime’s financial resources.

Microsoft Report Identifies Iranian, Russian Threat Actors

In addition to North Korean threat groups, the Microsoft report also identified Iranian nation-state threat actors seeking financial gains from scandalous cyber operations.

“This marks a change from previous behaviour, whereby ransomware attacks that were designed to appear financially motivated were actually destructive attacks,” the report read.

Iran placed significant focus on Israel, especially after the outbreak of the Israel-Hamas war. Iranian actors have continued to target the US and Gulf countries, including the UAE and Bahrain, the report added.

Additionally, Russian threat actor groups have integrated more commodity malware in their operations, outsourcing cyber espionage operations to criminal groups.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

WLFIUSDT now launched for pre-market futures trading

Bitget Announcement2025/08/23 13:50

New spot margin trading pair — SAPIEN/USDT!

Bitget Announcement2025/08/22 10:56

Bitget Will Delist MKR on 2025-08-22

Bitget Announcement2025/08/22 10:15