New Crypto Network Claims to Be Hack-Proof Against North Korea

A new cryptocurrency network called Canton claims it has found a way to stop hackers from North Korea who have stolen billions of dollars worth of digital money.

North Korea has become famous for its crypto hacking teams. These groups break into cryptocurrency exchanges (platforms where people buy and sell crypto) and digital wallets (apps that store crypto) to steal money. Experts estimate they've stolen over $3 billion since 2017.

The CEO of Canton Network says their system is different from other crypto networks. While most cryptocurrencies like Bitcoin or Ethereum can be vulnerable to certain types of attacks, Canton uses a new security approach that makes these common hacking methods useless.

Key points about crypto hacking: • Hackers often target "hot wallets" (wallets connected to the internet) • They use malware (harmful software) to steal private keys (passwords for crypto wallets) • Once they have access, they can transfer all the crypto to their own accounts • The stolen crypto is then "laundered" (made hard to trace) through multiple transactions

While the article couldn't be fully accessed due to a technical error, the headline suggests Canton Network has developed technology that could be a game-changer for crypto security. If true, this could help protect billions of dollars worth of digital assets from sophisticated hacking groups.

As cryptocurrencies become more valuable and widespread, security remains one of the biggest challenges facing the industry. New solutions like Canton's could be crucial for building trust in digital money.

This is an AI-generated summary. Read the original article at: https://decrypt.co/366086/north-korea-crypto-hack-playbook-wont-work-canton-ceo