Tuesday, October 4, 2022
HomeTechCryptocurrency worth $1 billion was stolen by North Korean hackers

Cryptocurrency worth $1 billion was stolen by North Korean hackers

North Korean hackers allegedly stole cryptocurrency from DeFi protocols valued at close to $1 billion, according to a report by a private corporation.

Decentralized finance (DeFi) protocols are defined as specialized autonomous computer programs developed to address issues in the conventional financial industry.

The ability to trade bitcoin across protocols would make it simpler to use cryptocurrencies as payment for products and services.

North Korea is responsible for the theft of around $1 billion in cryptocurrencies using these protocols in 2022 alone, according to statistics from 2022.

It has come to light that certain thefts were committed by very skilled hackers like the Lazarus Group.

DeFi systems have been the target of multiple attacks, according to expert Edith Reads. The attacks were skillfully organized and carried out.

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