Major shift in cybercrime to the blockchain. Cybersecurity companies aren't ready. Artificial intelligence is the threat and the solution to cyber crime. Essentially there is an AI arms race between cybersecurity firms and criminals.
Global trade tensions aren’t helping either. I expect state sponsored cybercrime to increase greatly as a result of the reordering of the global financial system.
I also expect that after state and corporate secrets, the next most prominent target is digital assets.
If I were going to make a concentrated bet on a cyber security firm I would absolutely focus on a firm that specializes in blockchain security
The North Korean government through a group of hackers called the Lazarus Group has embarked on an absolute spree of digital crimes in the last 10 years and has gotten very good at using AI tools to hack and more importantly to launder crypto currencies into unrecoverable dark money.
The 2019 hack on UpBit for $41m
The $275m theft of crypto from exchange KuCoin (most of the funds were recovered)
The 2022 Ronin Bridge attack which saw hackers make off with $600m in crypto
Approximately $100m in crypto was stolen in an attack on Atomic Wallet in 2023
The likelihood of these North Korean hackers being brought to justice is near 0%. It's not just that the North Korean government doesn’t care about cybercrime and won’t cooperate, it's also the fact that these crypto exchanges aren’t sharing information with each other about breaches and security threats.[Cybersecurity Investments](https://youtu.be/ANryrypkySg)
