North Korea blamed for largest heist in history as hackers steal $6bn
· Technology · Telegraph India, India Today
A United Nations panel of experts has concluded that North Korean state-backed hackers orchestrated the largest cryptocurrency theft on record, making off with approximately $6 billion in digital assets. The cyber intrusion targeted a major decentralised finance platform, exploiting a vulnerability in its cross-chain bridge infrastructure to transfer funds to wallets linked to the regime. This figure significantly dwarfs the previous record of $1.7 billion stolen in the 2022 Ronin Network hack, establishing a new benchmark for state-sponsored cybercrime. Investigators traced the laundering of the stolen assets through a complex chain of mixers and tumblers designed to obscure the flow of funds across international borders.
Why it matters
The scale of the theft exposes critical vulnerabilities in the global decentralised finance ecosystem, putting at risk the assets of retail investors and institutions worldwide. The findings underscore the growing threat of state actors leveraging cyber capabilities to bypass traditional financial sanctions and generate hard currency.
Read the original report — Telegraph India
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