Japan, the most affected by cryptocurrency hacks from North Korea

A study determined that Japan is part of the target network of the group called the Hermit Kingdom

A study by blockchain analytics firm Elliptic reveals that Japan is the country most affected by cyberattacks by North Korean hackers, resulting in the loss of cryptocurrency. According to the report released by the Japanese financial publication Nikkei, Asian countries represent three of the four main targets of hackers from the so-called Hermit Kingdom.

The study, commissioned by Nikkei, analyzed cryptocurrency losses caused by cyberattacks originating in North Korea from 2017 to 2022, taking into account both hacking and ransomware attacks. These attacks are described as a “national strategy”.

According to Elliptic, Japan suffered losses of $721 million from these attacks, representing 30% of the global total of more than $2.3 billion. These figures are based on an estimate of $640 million worth of cryptocurrency lost in 2022 alone. According to the United Nations, cryptocurrency theft by North Korea reached an all-time high in 2022.

“According to the Japan External Trade Organization, the $721 million stolen from Japan is 8.8 times the value of North Korea’s exports in 2021″, the Nikkei firm said.

The report also reveals that Vietnam was the second most attacked country, with losses of $540 million during the same period. The United States came in third, with losses of $497 million, while Hong Kong came in fourth with $281 million in losses.

K. Tovar

Source: Cointelegraph

(Reference image source: Unsplash+)

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