Blockcrux
  • News
    • Blockchain
    • Regulations
    • AI
    • Scams
  • Crypto
    • Bitcoin
    • Ethereum
    • Altcoin
  • Web3
    • NFT
    • DeFi
  • Press Release
  • Learn
  • Contact
    • Advertising
    • Submit Press Release
Reading: North Korean Crypto Hackers Target Japan
Share
Font ResizerAa
BlockcruxBlockcrux
Search
  • News
    • Blockchain
    • Regulations
    • AI
    • Scams
  • Crypto
    • Bitcoin
    • Ethereum
    • Altcoin
  • Web3
    • NFT
    • DeFi
  • Press Release
  • Learn
  • Contact
    • Advertising
    • Submit Press Release
Blockcrux
  • News
    • Blockchain
    • Regulations
    • AI
    • Scams
  • Crypto
    • Bitcoin
    • Ethereum
    • Altcoin
  • Web3
    • NFT
    • DeFi
  • Press Release
  • Learn
  • Contact
    • Advertising
    • Submit Press Release
Reading: North Korean Crypto Hackers Target Japan
Share
Follow US

Home - North Korean Crypto Hackers Target Japan

Crypto

North Korean Crypto Hackers Target Japan

Toby
By Toby May 15, 2023 379 Views
Share
North Korean Crypto Hackers Target Japan
North Korean Crypto Hackers Target Japan
SHARE

North Korea is a notorious name among the crypto community. The country is known for initiating large-scale crypto hacks. According to a study by a UK-based compliance specialist, it has been found that North Korean hackers target mostly Japan. Since 2017, North Korea has stolen around $721 million worth of cryptocurrency from Japan resulting in around 30% of the crypto losses of that type that has happened worldwide.

Contents
North Korea Funding Missiles Through CryptoJapan: The Biggest Victim
https://twitter.com/NikkeiAsia/status/1658030108727300096?s=20

North Korea Funding Missiles Through Crypto

Japan is not the only country under the radar of North Korea. The crypto assets of many other countries have also been targeted by North Korea. All the funding received through such illicit activity is used for missile programmes.

Many other countries have come forward to counter this issue. Central bank governors and finance ministers of various countries have decided to take a serious step. The theft of cryptocurrency and North Korea’s repeated missile launches in mind may disrupt international peace.

According to Elliptic, North Korea has two strategies to steal cryptocurrency: hacking and ransomware. The majority of the theft happens by the hacking medium where the cryptocurrency is directly stolen from the exchange. 

Japan: The Biggest Victim

North Korea is mostly focused on direct hacks as it gives them a large chunk of crypto assets if the hack succeeds.  Japan is the largest victim followed by Vietnam and Hong Kong. The total cryptocurrency stolen from Japan is $721 million which is 8.8X the total export value of North Korea in 2021.

Japan’s government fears that if missiles are being developed using this stolen fund, there may be serious repercussions. Hence, the Japanese government has amended its Payment Services Act to bring a stricter approach and other countries are following a similar step. 

TAGGED:Crypto ScamHackersJapanNorth Korea
Share This Article
Facebook Twitter Email Print

PRESS RELEASE

Crypto Gambinos Unveils Hyper-Realistic NFT Collection and $MOBCOIN Token in a Groundbreaking Launch

Crypto Gambinos Unveils Hyper-Realistic NFT Collection and $MOBCOIN Token in a Groundbreaking Launch

FuturePlay.com Releases Artifacts NFT Series, Raising Over $5 Million in Private Round.
Koi Finance Secures Strategic Investment to Accelerate Growth and Innovation on zkSync
Next Crypto to Explode—5 Bullish Coins Ready for Massive Gains After Bitcoin, Ethereum, XRP, and Solana Flash Crash
Vameon has launched dEmpire of Vampire and is ready for TGE and listing of $VON token

LATEST NEWS

Vaultus Finance Announces Official Launch of Advanced DeFi Vault Management Platform

Toby Toby April 23, 2024
Understanding the Global Regulatory Landscape for Cryptocurrencies
Up over 30,000% in 24 Hours: Is $HOMER Token a Scam?
The Battle of the Cryptos: Bitcoin Maximalists vs. the Rise of Ordinals
Camostat Mesilate – A Potential Drug to Prevent Coronavirus Infection
Blockcrux Logo blockcrux logo

About Blockcrux

Blockcrux is a web3 news publisher dedicated to delivering the latest, most accurate insights into blockchain and decentralized technologies. Covering everything from cryptocurrencies to NFTs and DeFi, it offers uncensored, real-time news, embodying the transparency and democracy inherent in the web3 ecosystem.

News

  • Blockchain
  • Crypto
  • Web3
  • AI

Help

  • Contact
  • Advertising
  • Submit Press Release
  • Privacy Policy

© Blockcrux News Network. All Rights Reserved.

Follow US on Socials

Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?

Last Updated on May 15, 2023 by Toby