Hacker Group connected With North Korea.

North Korea-linked hacker groups have reportedly managed to steal a staggering $721 million in cryptocurrency assets from Japan.

According to a report by the Nikkei business daily on Monday, hacker groups connected to North Korea have managed to pilfer approximately $721 million worth of cryptocurrency assets from Japan since 2017.

This amount accounts for a certain percentage of global loss to similar cyber attacks. The report also reveals that these groups have actively engaged in a series of sophisticated cyberattacks specifically targeting Japan’s cryptocurrency assets.

Subsequently, this has led to staggering theft of $721 million since 2017.

Massive Loss

North Korean hackers took $721 million in cryptocurrency from Japan

U.K. blockchain analysis provider Elliptic, commissioned by the Japanese newspaper, conducted the study and delved deeper into the matter. The report further disclosed that the amount is equivalent to 30% of the total global losses.

Elliptic also found that North Korea has successfully appropriated a total of $2.3 billion in cryptocurrency. The report stated that businesses experienced these incidents between 2017 and 2022.

This revelation comes in the wake of a statement issued by the Group of Seven finance ministers and central bank governors. They expressed their support for measures aimed at countering the escalating threats posed by illicit activities perpetrated by state actors.

One such concern highlighted in the statement is the increasing incidence of crypto-assets being stolen.

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Tanishi is an established writer in the realm of cryptocurrency and blockchain, renowned for her expertise and insightful analysis. With a deep-rooted passion for the dynamic world of digital finance, Tanishi delivers compelling news and articles that captivate a wide-ranging audience.