A report by Recorded Future has revealed that North Korean hackers have looted at least $3 billion in cryptocurrency.
American firm Recorded Future has revealed that North Korean hackers have carried out a series of successful cyberattacks. Stealing approximately $3 billion in cryptocurrency since 2017. Surprisingly, more than half of that figure materialized in the last year alone.
According to a recent report, these North Korean hackers have managed to steal a staggering amount equivalent to half of North Korea’s entire annual military expenditures. In the year 2022, his feat reached the colossal figure of USD 1.7 billion in cryptocurrencies, which represents 5% of the country’s economy or 45% of its military budget.
This economic impact is more than significant, as the amount looted considerably exceeds the total annual revenue generated by North Korea’s exports. The report highlights that the stolen sum is almost 10 times greater than the value of the nation’s exports in 2021, which amounted to USD 182 million.
Brazil Suspends Disclosure of Cryptocurrency Data
Recently, Brazil’s Federal Revenue office has suspended the disclosure of taxpayer data related to activities linked to cryptoassets, generating questions and confusion in the financial community.
According to the information available on the RFB website, the data currently available is limited until July 2023, with a note informing: “The technological process for making cryptoasset data available is under review. Once completed, the data corresponding to August 2023 will be published.
Although the news about the suspension of disclosure is not new, what creates uncertainty is the lack of clarity about when the availability of information will be restored.
Judge Warns SEC Lawyers of Possible Penalties for Misleading Arguments in Crypto Case
A federal judge issued a serious warning Thursday to lawyers for the Securities and Exchange Commission (SEC), indicating that they could face sanctions for allegedly influencing the court to freeze the assets of a crypto company with arguments that the judge called “false and misleading,” according to court documents.
U.S. District Judge Robert Shelby issued an order highlighting the possibility of sanctions for SEC lawyers, arguing that they presented “misleading” information about the Debt Box crypto project’s alleged attempts to move its assets and funds from foreign investors. These allegations led a court to freeze the project’s bank accounts. Judge Shelby stated that these “misrepresentations” undermined the integrity of the case, causing “irreparable harm” to Debt Box, the order states.
So far, the SEC’s Utah office has not issued a response to the judge’s warning or potential sanctions. The development sheds light on increasing scrutiny and regulatory actions within the cryptocurrency industry, where government agencies are taking a closer look at projects and companies that may be operating in violation of securities laws.
Binance VIP Traders Received Early Information About $4.3 Billion Fine During Exclusive Dinner
Elite traders at Binance were informed in advance about the unprecedented $4.3 billion crypto fine imposed in the United States. Details about the legal implications were discussed during an exclusive private dinner in September.
Two months after this meeting, the crypto giant agreed to pay the monumental fine, thus generating questions about transparency and equity in the management of critical information within the platform. This development raises concerns about equal access to crucial data and could draw the attention of regulators and the broader crypto community.
By Leonardo Perez
