A new study shows that hackers stole $2.2bn in cryptocurrencies this year. North Korean hackers took $1.3bn, pretending to be IT workers. They infiltrated technology firms to steal digital currencies. This is more than double what they stole last year. The price of bitcoin has doubled this year too.
The study says that hacking increased by 21% from last year. Most of the theft happened because private keys were compromised. These keys control access to users’ assets on crypto platforms. Centralised exchanges have a lot of user funds, so losing private keys can be very bad.
Some big thefts this year include $300m stolen from a Japanese exchange and $235m lost in India. The US government says North Korea uses cybercrime to get around international sanctions. They indicted 14 North Koreans for trying to extort money from US companies for weapons programmes. The State Department is offering a reward for information on the scheme.
Vocabulary List:
- Hackers /ˈhækərz/ (noun): Individuals who gain unauthorized access to computer systems often for malicious purposes.
- Infiltrated /ˈɪn.fɪl.treɪ.tɪd/ (verb): To penetrate or gain access to an organization or system often secretly.
- Compromised /ˈkɑːmprəmaɪzd/ (verb): To weaken security or integrity of something typically by exposing it to danger.
- Theft /θɛft/ (noun): The act of stealing; the wrongful taking and carrying away of the personal property of another.
- Sanctions /ˈsæŋkʃənz/ (noun): Penalties or restrictions imposed by one country on another often to influence behavior.
- Extort /ɪkˈstɔːrt/ (verb): To obtain something especially money through force or threats.
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