North Korean Hackers Steal IDR 10.6 Trillion of Crypto from Japan Since 2017

Liputan6.com, Jakarta A hacker group affiliated with North Korea has stolen cryptocurrency assets worth USD 721 million or the equivalent of IDR 10.6 trillion (assuming an exchange rate of IDR 14,790 per US dollar) from Japan since 2017.

This information was reported by the Nikkei business daily on Monday, citing a study by British blockchain analysis provider Elliptic.

The amount equals 30 percent of those losses globally, the Nikkei reported.

The report comes after the Group of Seven finance ministers and central bank governors said in a statement on Saturday they supported measures to counter the growing threat of illicit activity by state actors, such as crypto asset theft.

According to Elliptic, which conducted an analysis on behalf of the Japanese newspaper, North Korea has stolen a total of USD 2.3 billion or the equivalent of IDR 34 trillion in cryptocurrency from businesses around the world between 2017 and 2022.

North Korean Crypto Hacking Group

The Lazarus Group, is very well known as a North Korean hacking team known for crypto theft. The Lazarus Group has also been accused of carrying out a multi-billion dollar campaign against the crypto world, the proceeds of which are said to be to fund North Korea’s weapons programmes.

The hacker group is controlled by North Korea’s intelligence organization, the Reconnaissance General Bureau, and was behind the biggest crypto theft ever when it stole USD 625 million worth of digital assets from the Ronin network associated with the game Axie Infinity.

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