While North Korea leads the world in crypto crime, crypto analytic companies have calculable that DPRK hackers have found it increasingly tough to launder stolen crypto funds.
North Korea leads the world in crypto crime, with over 15 documented instances of cyber theft amounting to $1.59 billion in taken funds. However, the recent crypto market turmoil has tired several dollars from the country’s taken crypto portfolio.
The crypto market summary that started in might tired many billions of dollars from the crypto trade, wherever most of the crypto assets fell by over 70% from their high. As a result majority of taken crypto funds by the Democratic People's Republic of Korea (DPRK) hackers have registered a major plunge yet.
A report from Coinclub.com indicates that North Korea has deployed seven,000 full-time hackers to boost funds through cyberattacks, ransomware and crypto protocol hacks.
The $600 million Ronin bridge hack in April was also connected to the country’s ill-famed ransomware cluster, Lazarus. the worth of the taken Ether (ETH) has plummeted to $230 million in the current market, a decline of over 60%.
According to a Chainalysis report, the Democratic People's Republic of Korea (DPRK) held about $170 million in taken unlaundered cryptocurrency from 49 hacks over four years. the worth of the taken funds has currently declined to $63 million.
( Prashant Jha, Cointelegraph, 2022 )