Experts claim cyber attacks on crypto companies will rise, what is in store?

In terms of cybercrime and cryptocurrency attacks, North Korea is a remarkable region with increased activity. Many groups pose high threats through their attacks on some cryptocurrencies. A report in June also revealed that North Korea has 7 million active hackers.

Many stolen dollars worth millions of dollars have been traced back to the North Korean attacks. Most of the stolen funds are also allegedly used to sponsor various weapons of war, suicide bombings and other crimes.

North Korea in particular is struggling with some economic sanctions that have drastically limited most economic activities. However, the fall in resources in the country seems to be creating an increase in criminal activity.

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Over time, there has been a significant increase and sophistication in cyber attacks on cryptocurrency and technology companies. Cyber-attack groups in the country are gradually capturing more innovative measures to carry out their actions successfully.

Recent historical records of crypto-cyber attacks have put North Korea at the forefront. As a result, the country is linked to massive loss of funds, such as the $ 620 million Axie Infinity hack and the $ 100 million Harmony protocol hack.

CNN reported on Sunday, Soo Kim, a former CIA analyst, stated that the North Korean regime is evolving with the trend. She mentioned that the measures to collect crypto income had become the norm for them.

According to Kim, the country faces challenges such as limited access to other countries and food shortages. Therefore, hackers use the restriction to commit their crimes as if nothing or anyone could stop them. Kim also noted the possibility that criminals are improving their crypto-attack expertise to adapt to the trend.

North Korean criminals are trying to infiltrate crypto companies

Analyst Kim gave her comments about two months after the publication of a joint advice from the US government on North Korean criminal operations. There have been reports of North Korean infiltration of freelance tech jobs. Such actions created a high risk of theft of funds, data and intellectual property that could violate imposed sanctions.

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In addition, Kim mentioned that the North Korean cryptohacking craft would continue to improve. She explained that such craftsmanship may seem a bit unsophisticated in terms of how these attackers exploit foreigners, but it will improve over time.

Featured image from Pixabay, chart from TradingView.com