North Korean hackers are ramping up cyberattacks to steal many millions of dollars and are leaning on Russian partners to launder the funds, according to cryptocurrency analysts.
The observations of the escalating hacks and North Korea’s use of Russian infrastructure to move the stolen funds come amid growing cooperation between the two countries. North Korean leader Kim Jong Un visited Russian President Vladimir Putin last week and was expected to return to Pyongyang on Monday.
The FBI warned cryptocurrency companies in August that it tracked “hundreds of millions of dollars in cryptocurrency” stolen by the Lazarus Group and believed the hackers may soon attempt to cash out bitcoin worth more than $40 million. “This latest action marks a significant escalation in the partnership between the cyber underworlds of these two nations,” Chainalysis said on its blog. “Not only does this revelation signify a potent alliance between North Korean and Russian cybercriminal actors, but it also presents challenges for global authorities.”
The Biden administration is well aware of the North Korean hacking operations and is working to combat the state-sponsored hackers. Top White House cyber official Anne Neuberger said in May that her team estimated half of North Korea’s missile program is funded via cryptocurrency heists and cyberattacks.
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