The World's Largest Cryptocurrency Theft! North Korean Hackers Make About Rs 4,500 Crore

Cryptocurrency theft has been reported in many parts of the world lately. However, according to a recent report, this time the whole world witnessed the biggest hacking incident in the crypto world. Cryptocurrency tracking site Etherscan reports that North Korean hackers stole 800 million (about Rs 4,500 crore) from a blockchain technology-based video game called 'Axie Infinity' last month! Gamers earned cryptocurrencies by playing games on the platform as well as exchanging their avatars. But the hackers have taken that crypto.

The surprises don't end there, however, with a report from The Washington Post revealing some more shocking facts. It states that hackers are not only able to steal, but are still able to use the stolen cryptocurrency. The Treasury Department tried to seize all the money the hackers made in this crypto attack, but it did not materialize. It is learned that hackers have already transacted Ethereum worth 4.5 million. The Treasury Department has identified the group that caused the shocking incident as the Lazarus Group.

Earlier, the North Korean group hacked Sony Pictures in 2014 for the first time. According to blockchain analytics firm Elliptic, the group of cybercriminals has so far smuggled 100 million in stolen cryptocurrencies. The good news is that although the hacking group has not been fully located, some important information about the ring has already reached the Treasury Department, which has enabled it to freeze 5.6 million in cryptocurrency transferred to hackers. This information has been published in a report of Binance International Crypto Exchange. Needless to say, US officials are working hard to catch the hacking group.

As the days go by, there is no need to say anything new about the increasing incidence of various types of hacking around the world. There is no denying, however, that the recent incident is the greatest example of the hackers' ingenuity! Most importantly, North Korean hackers have made it clear in this case how to fully understand the vulnerabilities of the crypto economy and how to exploit it. They've made good use of all the flaws available on crypto platforms, and thus managed to grab this huge amount of money without anyone noticing, while maintaining complete confidentiality. The hackers deserve a lot of praise for making such an impossibility possible, but not for long. It is expected that technologists and researchers will come up with more sophisticated technology in the coming days. In that case, when all the troubles are over, when we will see a hacking-free world, the answer is probably only a matter of time.

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