US Files Lawsuit to Recover Cryptocurrency Accounts Linked to North Korean Hacking Operation


The Law squabble between the powerful
nations, the US and North Korea. An objection was filed by the states to
dictator country seeking to seize domination over 280Bitcoin and Ethereum
account that is suspected to be holding funds North Korean hackers stole from
two cryptocurrency exchanges. Though the law of court did not spot the hacked
exchanges, but the officials confirmed the two hacks transpired on 1st
July 2019 and 25th September 2019. In the latter date the N. Korean
hackers stole $272,000 worth alternative cryptocurrencies and tokens (Proton token,
Play Game tokens and IHT Real Estate Protocol token) while in the later date
hackers looted multiple virtual currencies of worth >$2.5 million.
According
to the evidence the US claims that Korean hackers used a technique called
“chain hopping”/blockchain funds to loot currencies. they also confirm that
convict North Korean hackers usually stole funds
from one exchange, transferred the funds to another exchange where they chain
hopped several times and eventually gathered all funds into the 280 BTC and ETH
accounts they tracked down.
As per the court documents, approximately 280 addresses are
forthwith frozen at crypto portal immediately after the hack,as cryptocurrency
exchange portals cooperated with each other to track down funds and freeze
accounts before the funds were converted back into fiat (real) currency, and
all traces lost for good
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Crypto Business World
CBW - External Analyst
INDIA