Threat Intelligence

UN’s North Korean crypto heist investigation underway

North Korea flag is depicted on the screen with the program code. The concept of modern technology and site development

Nearly 60 cryptocurrency heists conducted by North Korean state-sponsored threat operations, including Lazarus Group, Kimsuky, and Andariel, from 2017 to 2023 that resulted in nearly $3 billion in losses have been subjected to a probe by a United Nations panel, reports The Record, a news site by cybersecurity firm Recorded Future.

Included in the investigated cryptocurrency attacks are almost 20 intrusions last year with losses amounting to almost $750 million, such as the $120 million, $114 million, and $110 million attacks against Atomic Wallet, Poloniex, and Alphapo, respectively. Such attacks, which were enabled by social engineering, watering hole, and spear-phishing techniques, have been primarily conducted by North Korean threat actors as an illicit revenue stream for the country, according to the UN panel's report.

Such a report also recommended that UN member countries bolster financial cyber protections and hacking group sanctions while restricting money laundering techniques leveraged by North Korean hackers.

Get daily email updates

SC Media's daily must-read of the most current and pressing daily news

By clicking the Subscribe button below, you agree to SC Media Terms and Conditions and Privacy Policy.