According to a report by Nikkei, Japan has been the most affected country by North Korean cyberattacks on cryptocurrency platforms and users.
Study: North Korean Crypto Hackers Have Stolen $2.3 Billion
According to a report by Nikkei, Japan has been the most affected country by North Korean cyberattacks on cryptocurrency platforms and users. The report was based on a study by Elliptic, a blockchain analytics firm, that analyzed the losses of crypto from 2017 to 2022 due to hacking and ransomware incidents linked to North Korea.
The study estimated that Japan lost $721 million worth of crypto in these attacks, which accounted for 30% of the global total of more than $2.3 billion. Additionally, the study revealed that Asian countries were the main targets of North Korean hackers, with Vietnam, Hong Kong and the United States following Japan in the ranking of losses.
Elliptic attributed the high vulnerability of Japan and Vietnam to their weak security measures in the crypto sector. The report cited unnamed sources who claimed that at least three Japanese crypto exchanges were breached by hackers between 2018 and 2021. North Korea's notorious Lazarus Group was responsible for some of the major crypto thefts, such as the Ronin Bridge and Harmony Bridge exploits. The report also alleged that North Koreans used decentralized finance services and crypto mixers to launder their stolen funds and NFTs.
