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400 million dollars in cryptocurrency stolen by North Korean hackers

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North Korean hackers filched off around $400 million in cryptocurrencies through cyber-attacks in the year 2021, according to the reports of Blockchain analysis firm Chainalysis.

The attack was plotted by North Korean hackers dubbed as ‘Lazarus Group’ which was further led by Democratic People’s Republic of Korea’s (DPRK), the primary intelligence agency.

Moreover, the report says that, DPRK largely targets “Investment firms and centralized exchanges, and make use of phishing lures, code exploits, malware, and advanced social engineering” to maliciously procure the funds.

Widely known hacks from the Lazarus Group include KuCoin and other unspecified Cryptocurrency exchanges.

In parallel to this, North Korea has repeatedly denied being involved in hacking attacks. “From 2020 to 2021, the number of North Korean-linked hacks jumped from four to seven, and the value extracted from these hacks grew by 40%” stated by Chainalysis.

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