Massive cryptocurrency hacks may signal a new and upcoming type of national security threat.
United States authorities have recently tied the Axie Infinity hack, in which a threat actor stole roughly $625 million worth of crypto, back to North Korean hackers. Last Thursday, groups Lazarus and APT38, which are both linked to North Korea, were behind the theft of $86 million stolen Ethereum funds.
This type of cyber-warfare isn’t limited to large nations, as theft and robbery can now be facilitated by more isolated nations like North Korea. Digital assets can now be quickly stolen over the internet, potentially putting governments and people at risk, as more individuals invest their finances in cryptocurrency.
Businesses that utilize crypto don’t all have extremely strong cybersecurity measures, which makes them a premium target for cybercriminals. They’re younger and usually have a large volume of currency being moved around daily, creating a lucrative environment for bad actors to target vulnerabilities or lapses in security.
While North Korea has a limited technological infrastructure, it’s proving to be a large competitor in the threat landscape. Hackers there are launching cyber attacks on a similar scale to the U.S. and China, with no sign of slowing down.
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