$1.59B In Stolen Funds In North Korea, Leading The World For Crypto-Related Cybercrime

With $1.59 billion in stolen crypto funds, North Korea heads the world as being the top location for cyberattacks and stealing of funds in crypto.

What Happened: A recent report by Coincub revealed that North Korea has experienced 15 large-scale cybercrime incidents involving crypto, causing over $1.59 billion in stolen funds. These exploits are a result of a network of 7,000 hackers, constituting hacker collectives, such as Lazarus, and individual smaller-scale hackers.

Following North Korea, the United States has experienced 14 incidents of crypto crime. Russia, with $1.4 billion in stolen funds and dozens of malware exploits, comes third in the list of countries experiencing crypto-related cybercrime.

Also Read: Snoop Dogg: Crypto Crash 'Weeded Out' Everyone Who Wasn't Supposed To Be There

However, the report notes that only 0.15% of cryptocurrency transactions pertain to malicious activities, such as exploits and cybercrimes.

Thus, despite the recent bearish downtrend of the crypto market, as the sector continues to grow, regulations to oversee cryptocurrency and transactions may help reduce the number of crypto-related cybercrime incidents.

Posted In: cyberattacksNorth KoreaRussiaUnited StatesCryptocurrencyNewsMarkets

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