North Korean hackers steal more than 574 million euros worth of cryptocurrencies. It’s one of the biggest attacks of all time – Executive Digest

Axie Infinity, a well-known NTF-based online video game, announced in a blog post that it was hit by one of the biggest cyber attacks on cryptocurrencies of all time on March 29th.

The game, which allows users to earn money while playing, reported losses of 173,600 Ethereum and $ 25.5 million, a digital currency pegged to the U.S. dollar.

The attackers managed to get into the “Ronin Network,” a side chain that allows Axie Infinity players to switch by playing the digital currencies they earn.

More than $ 620 million (about $ 574 million) was stolen from the attack, according to a statement from the Federal Bureau of Investigation (FBI).

“The FBI, along with the Treasury Department and other U.S. government partners, will continue to expose and oppose North Korea’s illegal activities – including cybercrime and cryptocurrency theft – to generate revenue for the government,” the statement reads.

The U.S. unit accuses the attack of APT38 and an unknown cybercrime group, Lazarus Group, on behalf of the North Korean regime.

North Korea is one of the few countries to resort to hackers for financial gain with the goal of increasing the country’s revenue. The 2020 report found that the country’s hackers make up a team of about 6,000 people and that many work in other countries.

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