G7 Nations Fail to Stop North Korea’s Crypto Hacks: Japan’s Warning

In a separate report, the blockchain analysis firm Elliptic has claimed that most of the crypto stolen by North Korean hackers has been taken from Japanese targets, with hacker groups affiliated with Korean government organs having stolen $721 million worth of crypto from Japan since 2017. This number is a staggering 8.8 times greater than the value of Korea’s exports in 2021, according to figures from the Japan External Trade Organization.

North Korean hackers have also been blamed for raids on Vietnamese crypto sites and wallets worth $540 million, and Elliptic has claimed that $497 million has been stolen from the United States. Hong Kong wallets and platforms have allegedly been raided to the tune of $281 million since 2017, according to the same report.

The situation is worrying, as the theft of tokens and other crypto assets represents a serious threat to the security and stability of the global financial system. As such, it is imperative that governments and other stakeholders take decisive action to prevent such cyber-attacks and safeguard the integrity of the cryptocurrency industry.

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