In a joint statement, the governments of the United States, Japan, and South Korea have highlighted the growing risk posed by North Korean cyberattacks on the global blockchain and cryptocurrency sectors. The warning particularly focuses on the potential threats associated with hiring IT workers from North Korea.

The Threat of North Korean Hackers to the Blockchain Industry

The three nations emphasized in their January 14 statement that North Korean hacking groups, such as the infamous Lazarus Group, are increasingly targeting crypto exchanges and investors. These groups employ sophisticated tactics, including social engineering, and spread malware like TraderTraitor and AppleJeus.

A Call for Caution in IT Recruitment

Government authorities urged companies operating in the web3 and blockchain sectors to thoroughly vet new hires to avoid employing IT professionals from North Korea. Research indicates that such workers often pose as remote employees or investors. The report also mentioned initiatives to foster collaboration between the private and public sectors, such as Crypto-ISAC in the United States, as well as similar efforts in Japan and South Korea.

North Korean Cyberattacks in 2024

In 2024, North Korean cyber groups were linked to several high-profile attacks:

  • A hack on Japan’s DMM Bitcoin exchange resulted in losses of $308 million.

  • An attack on South Korea’s Upbit platform led to the theft of $50 million.

These incidents underscore the severity of the threat that North Korean activities pose to the global financial system.

Fraudulent Practices by North Korean Hackers

At the Cyberwarcon conference in November 2024, researchers revealed that North Korean hackers often disguise themselves as:

  • Remote IT workers employed by major tech companies,

  • Recruiters or venture capital investors.

Two specific hacking groups, Sapphire Sleet and Ruby Sleet, allegedly stole $10 million in just six months using these methods.

Collaboration Is Key to Protection

The governments of the USA, Japan, and South Korea have called on companies and individuals to remain vigilant and work together to create effective defense mechanisms. Thorough employee screening and adherence to security recommendations could help mitigate the risks of cyberattacks and safeguard the global financial ecosystem.

#CyberSecurity , #CryptoNewss , #cryptohacks , #cyberattacks , #HackerNews



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