North Korean Cyber Attacks Are Plaguing the Crypto Industry -Breaking
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North Korean Cyber Attacks are threatening the Crypto Industry- CISA alerted FBI and FBI to cyber threats from North Korean hackers that could target blockchain-related companies.
- Organizations in the cryptocurrency and blockchain industry are being targeted by criminal groups. This includes play-to earn games and decentralized finance protocols.
- CISA is not optimistic that the problem can be fixed soon.
Cybersecurity and Infrastructure Security Agency and Federal Bureau of Investigation issued alerts on Monday regarding cyber threats to North Korean companies that target blockchain firms following last month’s Ronin Bridge breach.
This alert was sent to both crypto-company employees and individuals. It also contained a number of safety precautions that could be taken in order to protect the blockchain.
This alert mentioned a few hackers groups by their names. Lazarus (APT38), BlueNoroff (BlueNoroff) and Stardust Chollima all belong to these groups. These groups are all classified as “advanced persistent threats” (APT).
This group has been known to be targeting companies in the crypto and blockchain industries, including Decentralized Finance Protocols (DeFi), and Play-to-Earn Games.
In 2021, these hacker groups managed to take home $400 million. After the Ronin Bridge hack, where criminals stole $620 million, this number was already surpassed. It is clear that cybercrime exists in the cryptocurrency sector.
The CISA does not believe that this problem will be solved anytime soon and stated that “These actors will likely continue exploiting vulnerabilities of cryptocurrency technology firms, gaming companies, and exchanges to generate and launder funds to support the North Korean regime.”
The severe sanctions that were placed on Kim Jong Un are thought to have caused these cyber-threats. The sanctions effectively blocked his cash flow, causing him to resort to cryptocurrency to pay for nuclear weapons.
CISA stated, “While there are many strategies to help cybercrime problems, the best strategy for education is awareness and education about the severity of the problem.”
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