The US government is boosting its cybersecurity efforts by targeting 280 cryptocurrency accounts linked to North Korea hackers. According to the Reuters report, the U.S. authorities are making efforts to seize crypto accounts believed to have been used by North Korean hackers to steal millions of dollars worth of cryptocurrencies from two virtual exchanges.
This action comes after the hackers have been identified to have been involved in a number of crypto-related cyber crimes in the world. U.S. authorities also believe that hackers use stolen currencies to fund different military operations, such as the missile program.
The U.S Department of Justice filed for a civil forfeiture complaint in a move touted to give the authorities total authority to seize all of the 280 accounts. It is worth noting the North Korea hackers laundered money through Chinese traders who used the accounts to launder over $100 million on their behalf.
North Korea using Hackers to overcome harsh economic effects of sanctions
Following the different sanctions imposed on North Korea since 2006, the country has had to face tough economic times. It is precisely this situation that the U.S. authorities believe prompts North Korea to incorporate state-sponsored hackers to hack and steal funds intended to fund different programs in the country.
The UN Security Council first imposed sanctions on the country, following reports that the government was working on a ballistic missile program. It is also widely believed that the majority of stolen cryptocurrencies are averted towards supporting this program.
Brian Rabbit Who serves as the assistant attorney general for the justice department in a statement insists that the recent expose shows just how much North Korea hackers were embedded with the Chinese gang to scam funds fraudulently.
Hackers have amassed a whopping $2 billion from targeted cyber crimes
According to reports, the North Korea hackers have managed to scam over $2 billion worth of cryptocurrency from their hacks. The hackers mostly target banks and crypto-exchange platforms. Meanwhile, the infamous Lazarus group has been credited to a number of cyber attacks on financial firms worldwide.