New North Korean Hacker Group Sanctioned Over Crypto Thefts in the US
A new North Korean hacker group has been sanctioned by the United States government over crypto thefts. The group has been linked to cyber campaigns targeting blockchain and crypto companies, posing a significant threat to the security of the digital assets.
Infiltration Through Employment, Not Just Crypto Hacking
North Korea’s history of cyber attacks, including involvement from groups like the infamous Lazarus Group, has raised concerns globally. These attacks have not only targeted cryptocurrency exchanges but have also extended to infiltrating organizations through employment tactics.
Treasury Deputy Secretary Michael Faulkender revealed that thousands of North Korean IT workers, primarily based in Russia and China, are actively seeking positions within US-based blockchain and crypto firms. By assuming the identities of American citizens, these hackers blend in seamlessly, posing a serious risk to the companies they target.
Huge Losses in the Crypto Sector
TRM Labs reported that North Korean actors were responsible for stealing an estimated $1.6 billion from crypto companies in the first half of the year alone. This staggering amount highlights the scale of the threat posed by these malicious actors and underscores the importance of robust cybersecurity measures within the industry.
Earlier, on June 5, the Department of Justice (DOJ) took action to seize $7.74 million in frozen crypto assets linked to North Korean IT workers, further underscoring the US government’s efforts to combat illicit activities in the digital asset space.
