State-Sponsored North Korean Hackers Reportedly Stole $1.2B in Crypto Since 2017

State-sponsored North Korean hackers stole $1.2 billion worth of crypto assets in the last five and a half years and the country has been using these funds to finance its nuclear missile program.

The NIS estimates that cyber criminals stole half of this amount — roughly $626 million — in 2022 alone. Roughly $78 million of the funds were stolen from South Korea, according to the report.

North Korea’s re-investment of the stolen funds is not news to the world. In February, a report submitted to the UN security council also claimed that the country was using funds stolen via crypto hacks to finance its nuclear missile program.

Other studies have also shown that North Korea is leading in crypto crimes on a global scale, with the infamous Lazarus Group being the most famous one. Lazarus has been targeting crypto firms all over the world and is proven to be responsible for major hacks like the Harmony horizon bridge hack and Axie Infinity’s Ronin Network exploit.

Ohio Man Who Stole 713 Bitcoins From US Authorities Is Set to Plead Guilty of Theft

Crypto Scammers Stole $3.5 Billion From Investors in 2022 – Report

Ankr Says Ex-Employee Caused $5M Exploit, Vows To Improve Security