North Korean hackers boost Pyongyang's huge crypto reserve
North Korean hackers have stolen the equivalent of billions of dollars in recent years and the nation is seeking to amass even greater wealth through illicit means, experts told DW.
Hackers belonging to the Lazarus Group — a notorious North Korean crypto theft ring — stole a record $1.5 billion (some €1.37 billion) in digital tokens from Dubai-based cryptocurrency exchange ByBit in late February. The company said the hackers had accessed its digital wallet for Ethereum, the second-largest electronic currency after Bitcoin.
Binance News, a new platform operated by cryptocurrency exchange firm Binance, reported last month that North Korea now has some 13,562 Bitcoins, the equivalent of $1.14 billion. Bitcoin is the world's oldest and best known cryptocurrency, often compared with gold due to its alleged resistance to inflation. Only the US and Great Britain have greater reserves of the currency, Binance News said, citing crypto data provider Arkham Intelligence.
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