North Korean hackers have stolen over $200 million through their conducted attacks.
According to Decrypt's report, the revenue generated by the hackers in the last five years has surpassed $2 billion.
TRM Labs' data revealed that North Korean hackers have stolen over $200 million in cryptocurrency within the year 2023. This constitutes approximately 20% of the cryptocurrency gains from hack attacks in 2023.
TRM Labs stated that the past year was the most lucrative for hackers in terms of stolen funds. In 2022, hackers stole over $800 million worth of cryptocurrency, with the theft of $625 million from Ronin Bridge causing a significant impact.
A spokesperson from TRM Labs provided the following statement to Decrypt:
"North Korean hackers employ numerous techniques, ranging from changing networks to crypto mixers, to launder the stolen funds. Subsequently, they swiftly convert these assets into cash through accounts on exchanges with lax KYC/AML controls."
"Sinbad is the preferred choice.
Following the U.S. Treasury Department's targeting of Tornado Cash, TRM Labs stated that hackers have turned to Sinbad:
"After OFAC's imposition of sanctions on the cryptocurrency mixer service Tornado Cash last year, it was observed that North Korean hackers opted for Sinbad as their cryptocurrency mixer of choice."
In June of last year, hackers conducted an attack on Atomic Wallet users, stealing $100 million worth of BTC, Ether, TRX, XRP, XLM, Doge, and LTC."
Source: cointelegraph
