North Korean hackers began attacking exchangers and cryptocurrency exchanges

Cybercriminals have switched from banks and financial institutions to Bitcoin wallets and cryptocurrency exchange sites.

North Korean hackers have targeted cryptocurrency exchanges and individual Bitcoin wallets. In 2017, they carried out at least five attacks on resources, including the South Korean exchange Yapizon. This is stated in a report from FireEye, an information security company.

According to researchers, on April 22, four wallets of the South Korean cryptocurrency exchange Yapizon were hacked, but there is no exact data on the participation of North Korean hackers in this case: the methods used in subsequent hacks were different. After this, cybercriminals carried out another series of hacks, but FireEye does not disclose the names of the sites.

TechCrunch journalists suggested that among the victims was the largest ethereum exchange Bithumb, which was attacked in June and lost more than a million dollars.

The company explained that most likely, the increased activity of the DPRK in the field of cryptocurrency theft is explained by the strengthening of sanctions against the country. In addition, due to the lack of regulation in most countries, many exchanges and exchangers do not combat money laundering in any way, which allows North Korean hackers to exchange cryptocurrencies for real money.

It is not surprising that cryptocurrencies as a lifeline are attractive to a regime that in many ways resembles a criminal enterprise. And while North Korea is now adept at both cyber espionage and financial crime, this unique combination is unlikely to last long as increased power may clash with symmetrical capabilities.

from the FireEye document

FireEye also noted that in most cases, hackers used regular phishing, sending email messages to exchange employees about viruses, tax changes with embedded viruses that stole data to access wallets.

This is not the first time it has become known that North Korean government hackers are stealing bitcoins. In April 2017, South Korean media reported that North Korea was strengthening its national currency through the theft of cryptocurrencies. Kaspersky Lab then discovered that hackers from North Korea may be responsible for attacks on large international banks, as well as Sony.

An elite group of hackers could bring North Korea about $860 million in revenue annually from cyberattacks on organizations in other countries, according to South Korean authorities.

#cryptocurrencies #DPRK