- North Korean hackers are responsible for $3 billion worth of crypto asset losses as of July 2024.
- The FBI warns that North Korean actors are researching targets connected to cryptocurrency ETFs for potential malicious cyber activities.
The United States Federal Bureau of Investigation (FBI) has issued a warning that North Korean hackers are "aggressively targeting" employees in the web3 industry to steal cryptocurrency funds. The FBI highlighted that these cybercriminals employ "complex and elaborate" social engineering strategies, making their tactics difficult to detect even for individuals with advanced technical knowledge.
According to the FBI's Tuesday release, North Korean actors are deploying sophisticated strategies to compromise networks connected to cryptocurrency assets. These efforts are part of a broader scheme to deceive individuals working at cryptocurrency and decentralized finance (DeFi) firms. The FBI emphasized that this poses a "persistent threat" to entities holding large amounts of cryptocurrency or related products.
"North Korean malicious cyber actors conducted research on a variety of targets connected to cryptocurrency exchange-traded funds (ETFs) over the last several months," the FBI said.
This research included pre-operational preparations, indicating that these actors may attempt malicious activities against companies associated with cryptocurrency ETFs or other financial products.
Tactics used by these hackers include impersonating notable company members, fabricating scenarios tailored to the victim's background, and requesting non-standard software to execute malicious code.
To mitigate these risks, the FBI recommends that firms avoid storing crypto wallet information on internet-connected devices, refrain from using company computers for de-bugging exercises, and implement systems to verify individuals via separate communication platforms.
Edited by Harshajit Sarmah
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Harshajit Sarmah
