Experts from the Reuters news agency claim that stocks of cryptocurrencies stolen by state hackers in North Korea have fallen in price amid a market crash.
The current circumstances may jeopardize the financing of the DPRK’s weapons programs. In particular, the creation of nuclear weapons. The North Korean regime has been linked to multiple cyberattacks aimed at stealing digital currencies.
According to two unnamed South Korean government sources, due to extensive sanctions and the current situation in the cryptocurrency market, the DPRK’s cryptocurrency revenues have been severely depleted. Precise figures are hard to come by, but according to Chainalysis, North Korea-linked wallet stocks generated in 2020-21 have dropped from $170 million at the start of 2022 to $65 million.
The US authorities have linked the spring hack of the Ronin Network Ethereum sidechain, which is used mainly in the game Axie Infinity, with North Korean hackers from the Lazarus group. As a result of the hack, assets worth $625 million were stolen. However, these assets are now worth about a third of the original amount, about $230 million, according to Reuters experts.
Earlier, US government departments expressed concern that more IT professionals from North Korea are trying to get jobs in cryptocurrency companies, posing as developers from the United States.
Source: Bits
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