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Cryptocurrencies

North Korean crypto thefts target Japan, Vietnam, Hong Kong

Study finds Japan's $721m loss accounts for 30% of global total since 2017

According to the Japan External Trade Organization, the $721 million stolen from Japan by North Korean hackers is 8.8 times greater than the value of North Korea's exports in 2021.   © Reuters

TOKYO -- North Korea is using cyberattacks to target Japanese cryptocurrency assets. Hacker groups affiliated with North Korea have stolen $721 million from Japan since 2017, according to a study by a U.K.-based compliance specialist. That is equal to 30% of the total of such losses worldwide.

Pyongyang is believed to have targeted the crypto assets of other countries to obtain the foreign currency that it uses for its missile program. This could, in turn, threaten the security of Asia.

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