Cryptocurrencies are already going through a bad year. hacks this month binance and Solana-based SOL/USD DeFi platform mango just rubbed salt in the wounds – and caused a few laughs online.
What happened: That latest unauthorized exploits — worth over $100 million each — have spurred netizens to create memes suggesting North Korea and its supreme leader. Kim Jong Un, were behind the hacks to fund the Hermit Kingdom’s defense systems.
Funding secured for next rocket launch pic.twitter.com/dF3XDnysk6
— 찌 G跻じ 𝙎𝙚𝙣𝙥𝙖𝙞 the 𝙃𝙚𝙣𝙩𝙖𝙞 (@DegenSpartan) October 12, 2022
Kim: Yo bro, defi money is easy money, my funding is back on track pic.twitter.com/vzEZuLEC3g
— UmaruCapital⚡(🌝,�) (@UmaruCapital) October 12, 2022
— Kuro (@KuroXLB) October 12, 2022
Jokes aside, according to Chainalysis, North Korea has launched at least seven attacks on cryptocurrency platforms that extracted nearly $400 million worth of digital assets in 2021.
See also: $1.59 billion in stolen funds in North Korea, world leader in crypto-related cybercrime
“Primarily targeting investment firms and centralized exchanges, these attacks used phishing decoys, code exploits, malware and advanced social engineering to divert funds from these organizations’ internet-connected ‘hot’ wallets to DPRK-controlled addresses ‘ the report noted.
DeFi protocols have also become a frequent target of government-sponsored hacking groups. According to Chainalysis estimates, groups linked to North Korea have stolen about $1 billion in cryptocurrency from DeFi protocols so far in 2022.
price action: Mangoes MNGO MNGO/USD is up 7.3% over the past 24 hours after falling 42% on Wednesday, according to price data from CoinMarketCap.
illustration of Alexey Konkov on Shutterstock
