Security expert: North Korea has turned cryptocurrency theft into a way to finance military spending, and it has become a systemic threat

DRIFT-15,52%

Gate News message. On April 12, as North Korea’s infiltration and attacks targeting the crypto industry continue to escalate, security experts say its core difference from hackers with backgrounds in other countries is that crypto assets have become a crucial direct source of financing for maintaining military expenditures. According to reports, in a recent infiltration operation targeting the Drift Protocol that lasted for months, North Korean hackers once again sent shockwaves through the industry. Experts say this pattern is not merely a “fund transfer tool,” but rather direct “plunder-driven profit,” used to bypass international sanctions and obtain immediately usable hard-cash funding. Security researchers point out that, unlike countries such as Russia and Iran, North Korea has almost no sustainable capacity for external economic activities and commodity exports, so it relies more on crypto theft as its core revenue source to support nuclear weapons and ballistic missile programs. Experts also emphasized that North Korean hackers’ attack targets have shifted from simple phishing to include exchanges, wallet services, and key-privilege holders of DeFi protocols, and they commonly use long-cycle social engineering and identity-impersonation infiltration methods. Because blockchain transactions are “once confirmed, irreversible,” the crypto industry is far weaker than the traditional financial system in freezing funds and recovering them, making such attacks more destructive in terms of speed and scale. Security personnel warn that this kind of “long-term lurking + precise power seizure” attack pattern has not yet been effectively addressed by the industry.

Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to Disclaimer.

Related Articles

Trump Says Naval Blockade on Iran Will Continue Until Deal Is Completed

President Trump announced on social media that the naval blockade on Iran will persist until a complete deal is finalized, emphasizing that negotiations are nearly done and should be concluded swiftly.

GateNews7h ago

US and Iran Discuss Plan to End War, US to Unfreeze $20B in Iranian Funds for Uranium Concessions

The U.S. and Iran are negotiating a conflict resolution plan, involving the unfreezing of $20 billion in Iranian assets in return for Iran giving up its enriched uranium stockpile. Talks are set for April 20 in Islamabad.

GateNews7h ago

France's Finance Minister Calls for Expansion of Euro-Backed Stablecoins

French Finance Minister Roland Lescure advocates for euro-denominated stablecoins and urges banks to consider tokenized deposits, supporting the Qivalis alliance's plans for a euro-pegged stablecoin by 2026 to counter U.S. digital payment dominance. This signals a shift from previous French policies against private stablecoins.

GateNews7h ago

China to Strengthen Legislative Framework for AI, Digital Economy, and Blockchain

China plans to enhance its network legal system to address the needs of internet development, focusing on legislation for AI, digital economy, and other tech sectors. By December 2025, over 180 laws are expected, though current regulations still lag behind public expectations.

GateNews8h ago

Ukraine Willing to Hold Summit with Russia in Turkey, Zelensky, Putin, Erdogan, and Trump to Participate

Ukraine aims to host a leadership summit in Turkey involving Presidents Zelensky, Putin, Erdogan, and Trump to discuss peace efforts, as stated by Foreign Minister Andrii Sybiha.

GateNews8h ago

Grinex Exchange Halts All Trading After $15M Cyberattack on Wallet Systems

Grinex, a Kyrgyz crypto exchange, suspended trading after a cyberattack resulting in losses of around $15 million. The advanced nature of the attack points to organized or state-level involvement. Grinex has reported the incident to authorities and is assessing the damage.

GateNews9h ago
Comment
0/400
No comments