FBI Warns of North Korean Scammers Aggressively Targeting Crypto Firms FBI Warns of North Korean Scammers Aggressively Targeting Crypto Firms

• North Korean hackers are using fake job offers and investment opportunities to target cryptocurrency firms.
• The FBI has identified over $40 million in stolen Bitcoin linked to North Korean cyber activities.

FBI has warned the digital asset firms to be aware of a North Korean Crypto hacker group. DPRK has employed fake employment offers and investment opportunities to trick crypto users into downloading malware. They have made the latest attempt to steal companies’ cryptocurrencies.

On 3rd September, The Federal Bureau of Investigation released a Public Service Announcement. The alert titled, “North Korea Aggressively Targeting Crypto Industry with WellDisguides Social Engineering Attacks” reports that The Democratic People’s Republic of Korea is doing “highly tailored” and “difficult-to-detect” campaigns against employees of DeFi, cryptocurrency, and other related businesses. 

Besides this, the North Korean hackers have researched various targets connected to cryptocurrency ETFs. They are so well versed in their job that, even those giant and superior organizations with access to large quantities of cryptocurrency-related assets can be vulnerable to DPRK’s determination. FBI has also given an overview of the DPRK’s tactics, alerting companies to take measures for those most at risk. 

In addition, the announcement includes mitigations, indicators, and responses. They have listed potential indicators of the North Korean social engineering activity. Few practices were mentioned to lower the risk from North Korea’s innovative and evolving social engineering capabilities. 

DPRK’s Previous Activities in Crypto Theft

Previously, on 16th August, On-Chain Analyst ZachXBT exposed a North Korean network targeting crypto firms. He reported discovering a DPRK network employed in 25 plus crypto projects. He has stated that while exploring a particular group’s loss of money, he found several DPRK IT workers being involved in the scam. 

Furthermore, on 22nd August, the FBI identified cryptocurrencies being targeted and stolen by DPRK. They believed that the DPRK may attempt to cash out the bitcoin worth more than $40 million. After the investigation, the FBI found out the bad actors moved 1,580 Bitcoin from various high-volume crypto heists and are holding it in several addresses. 

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