North Korea hackers stole $400m of cryptocurrency in 2021, report says

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A report claims that North Korean hackers stole almost $400m worth of digital assets in at least seven attacks on cryptocurrencies last year.

Chainalysis said it was one of the most successful years for cyber-criminals in the closed east Asian state.

Investment firms and exchanges were the targets of the attacks.

North Korea has always denied being involved in hack attacks.

The number of hacks linked to North Korea jumped from four to seven between 2020 and 2021, according to a report.

The company said that the hackers used a number of techniques to steal funds from the organisation's "hot" wallet and then moved them into North Korea-controlled addresses.

The internet and the cryptocurrencies network make the hot wallet vulnerable to hacking. They allow users to view how many coins they have.

Many experts recommend moving large amounts of currency to a "cold" wallet, which is disconnected from the internet.

The Lazarus Group, a hacking group that is believed to be controlled by the North Korea's primary intelligence bureau, is likely to have conducted many of the attacks last year, according to Chainalysis.

The Lazarus Group has been accused of involvement in a number of cyberattacks, including the "WannaCry" and "Sony Pictures" attacks.

The report on last year's cyber attacks said that once North Korea gained custody of the funds, they began a careful laundered process.

The UN panel that monitors sanctions on North Korea has accused the country of using stolen funds to support its nuclear and missile programmes.

In February last year, the US charged three North Korean computer programmers with a massive hacking spree aimed at stealing more than $1 billion in money and cryptocurrencies.

The Department of Justice said that the cyber attacks affected companies from banks to movie studios.

The caption is media.

Is there a future for money?

It is a form of money called cryptocurrencies.
North Korea.
There is cyber-security.