Anne Neuberger said the U.S. government is committed to identifying the North Korean cryptocurrency hackers and tracking down the stolen digital assets.
North Korea funds about half of its missile tests through password theft and cyberattacks, according to an unnamed White House official.
A recent Chainalysis report revealed that North Korean hackers embezzled $1.7 billion in digital assets in 2022. Arguably the most notorious local hacking group, the Lazarus Group, carried out multiple attacks last year, most notably the $625 million Ronin Network breach.
North Korea hackers remain a threat
The Democratic People's Republic of North Korea is becoming a military giant in the past few years and is one of the few countries in the world that possesses He weapons. The North Korean government, led by Kim Jong Un, also takes every opportunity to upgrade its weapons by launching missile programs and various tests.
A White House official recently revealed that stolen cryptocurrency or cyberattacks funded half of the war effort. Anne Neuberger, deputy national security adviser for cyber and emerging technologies, said Biden’s cabinet is “putting a lot of time and thought” into trying to understand “how a country like North Korea can be so creative in this space.”
She also asserted that U.S. intelligence agencies are trying to identify bad actors and track lost assets.
The United Nations (UN) also claims the totalitarian state funds its missile program and nuclear testing by stealing codes.
Despite accusations and threats from the Western world, North Korea remains focused on its war-related efforts. The country's authorities said a month ago that they had tested the "most powerful" missile to date. Experts warn that the new weapon will be able to strike other countries, including the United States, faster and with more devastating effects.
Kim Jong-un, who is overseeing the trials, said the test would cause rivals to "suffer extreme fear and anxiety".
Last year left a mark
Stealing cryptocurrency through sophisticated hacking methods is a signature move adopted by North Korean cybercriminals. Blockchain data platform Chainalisys estimates that such criminals have drained away $1.7 billion worth of digital assets through several attacks in 2022.
Lazarus Group, a notorious hacking group allegedly linked to local governments, was responsible for some of last year’s biggest breaches. For example, the FBI claimed the group was behind the massive $625 million Ronin Network attack.
Compliance platform MistTrack said earlier this year that the Lazarus Group stole $100 million from cryptocurrency protocol Harmony. Prior to this, Elliptic Enterprise also made the same suggestion.
