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Cryptographic detective ZachXBT published a report on North Korean hackers working in the cryptocurrency industry, claiming that they may occupy as many as 920 positions in IT and software development.
These infiltrators are active worldwide, attacking companies across the cryptocurrency sector. However, they often have distinctive warning signs, and dedicated startups can detect potential threats.
North Korean hackers quietly infiltrate cryptocurrency companies
Since the Lazarus group conducted the largest theft in cryptocurrency history this year, the industry has been cautious of North Korean hackers.
Cryptocurrency crime remains elevated across the sector, further contributing to panic. However, until now, there has been no specific analysis of potential infiltrators working in the cryptocurrency industry, which ZachXBT is trying to address.
ZachXBT, one of the most renowned detectives in the industry, has been tracking North Koreans in DeFi for several months. Some of the first major infiltrators were unmasked in May, but this trend is intensifying.
Last week, these hackers stole $1 million from several NFT projects, showcasing their growing capabilities. So how does this infiltration work?
Tracking breaches
Many hackers are paid exclusively in cryptocurrencies or a mix of cryptocurrencies and traditional currencies, allowing detectives to track their data on the blockchain. ZachXBT tracked legal salary payouts to groups of suspected North Koreans, which totaled $16.58 million this year.
Many applicants worked simultaneously in several positions, so there may not be 900+ simultaneous hackers.
Nevertheless, this is little consolation for many. North Korean hackers are likely present in almost every regional cryptocurrency industry, regardless of KYC/AML requirements.