FBI recovers $500,000 cryptocurrency which was paid as a ransom for a ransomware attack carried out by North Korea

North Korea being accused of ransomware attacks.

According to the reports, it is said that most of the ransomware attacks that happen in US is orchestrate by North Korea. It is also believed that the attacks are mainly against the medical facilities of the continent.

In other reports that were coming out, it was stated that North Korea was channelizing stolen cryptocurrencies to fund its nuclear program and that the market crash which happened in May actually slowed them down in their process.

Credits: The Guardian

North Korea makes US’s medical facility a target.

The reports from the world of media states that, North Korea is making the medical industry of US the target for the ransomware attacks. Though the main motive behind such attacks is still unknown, FBI has been able to recover a big lot of cryptocurrencies which was used to be paid as a ransom.

FBI recovers $500,000 in cryptocurrency.

After a medical facility in Kansas was attacked by North Korean cybercriminals, the FBI and Justice Department reacted immediately. Both the parties were on high alert and were determined to nab the criminals.

The officials with the help of experts tried to nab the criminals. Factually, they were successful to some extent as they were able to recover around $500,000 in cryptocurrency. Following the attack on the U.S. Colonial Pipeline, experts used the same methods then used blockchain analytics to track the cryptocurrency transaction.

The US officials clashing head on with hackers.

The officials of US are working day in and day out to take on the hackers. The officials are also insisting private companies and others from the private sector to lodge a complaint with FBI if they were to end being a victim of such a heinous crime. They were also warned of paying any crypto ransom, as the cryptocurrency would surely be used to fund their illegal nuclear project.

The officials also urged the youth from various kinds of universities to join the ranks and help the officials with skills and their knowledge to nab the cybercriminals.

Writer’s Analysis:

It is not pleasing to read about North Korea’s plan of action to fund nuclear projects with stolen cryptocurrencies. In general, nuclear projects needs to be done under a lot of supervision and legal enforcements, seeing North Korea conduct such activities without legal permission is devastating. Also, their plan to hack into data of medical facilities of US and asking for crypto as ransom is more frustrating to read about.

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