An American blockchain startup in Atlanta incurred losses of $900,000 due to fraud orchestrated by four North Korean citizens. The perpetrators, posing as qualified IT specialists, infiltrated the company and accessed its internal systems. The U.S. Department of Justice has filed formal charges against them, emphasizing the rising threat of cybercrime from North Korea. This incident is part of a broader campaign by North Korean hackers, who, according to the FBI, stole over $659 million in cryptocurrencies in 2024 to fund military needs.
The scheme involved the use of social engineering and forged documents, allowing hackers to integrate into the startup's team. They gained access to confidential data and withdrew funds, which were later laundered through cryptocurrency mixers. This case highlights the vulnerability of the crypto industry to internal threats and the necessity for thorough employee vetting.
The crypto industry lost over $2.1 billion in 2025 due to hacker attacks, a record figure. Experts urge companies to strengthen cybersecurity and implement modern verification methods.
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