Experts Claim Cyber Attacks On Crypto Firms Will Rise, What’s Ahead?

Regarding cryptocurrency cybercrimes and attacks, North Korea is a notable region with increased activities. Many groups are posing high threats through their attack on some crypto protocols. Also, a report in June disclosed that North Korea has 7 million active hackers. Many stolen funds running into millions of dollars have been traced back to the North Korean attacks. Also, most stolen funds are allegedly used for sponsoring different war weapons, suicide bombings, and other crimes. North Korea is notably struggling with some economic sanctions that have drastically limited most economic activities. However, the drop in resources in the country seems to create a spike in criminal activities. Over time, there has been a significant increase and sophistication in cyber-attacks on cryptocurrency and tech companies. Cyber-attack groups in the country are gradually trapping more innovative measures for implementing their actions successfully. Recent historical records of crypto cyber-attacks have placed North Korea at the forefront. As a result, the country is linked to massive losses of funds, such as the Axie Infinity hack of $620 million and the Harmony protocol hack of $100 million.

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