North Korea behind $100m crypto theft, FBI says
Al JazeeraNov 25, 2022
The Facts
The FBI on Monday said that North Korean (DPRK) hacking groups Lazarus Group and APT38 stole $100M worth of digital assets from the California-based crypto firm Harmony last June.
The hackers reportedly stole ether (ETH), tether (USDT), and wrapped bitcoin (wBTC) from the firm's Horizon Bridge – a service enabling crypto assets to be traded between the Harmony blockchain and other blockchains.
The Spin
Narrative A
It's not unusual for North Korean state-backed hacking groups to perpetrate highly lucrative cyber hacks. For a country that's subject to heavy sanctions, stealing cryptocurrency is an easy way to get much-needed funds. However, government regulators have successfully employed diplomatic, information, and military tools, to counter such crimes and proven themselves prepared to prevent all sorts of cyber attacks.
Narrative B
North Korea's cybercrime program is multifaceted. It targets banks, cryptocurrency exchanges, and individual users, with methods including bank heists and ransomware attacks. The true extent of its success is difficult to quantify, but a 2019 UN report estimated that the country had raised as much as $2B through cybercrime, bringing into question the effectiveness of US sanctions. It's time for a different approach.
Establishment-critical narrative
These baseless accusations are hypocritical coming from the US, one of the world's main ringleaders of cyber attacks. The sole goal is to smear North Korea and justify the sanctions and pressure campaign waged against it.
