North Korea blamed for cryptocurrency scams

North Korea blamed for cryptocurrency scams

North Korea’s hackers and operatives have fully adopted cryptocurrency as a method of bypassing international sanctions and raising funds for the Pyongyang regime.

Two reports released in the past two weeks by Group-IB and Recorded Future, respectively, reveal the depths to which North Korea has gone to do so, relying on hacks of cryptocurrency trading platforms, running cryptocurrency-related scams, and even creating a fully-functional scam coin.

Of these, by far the most common on successful were North Korea’s cyber-attacks targeting cryptocurrency exchanges. A Group-IB report published last week pinned five of 14 cryptocurrency exchange hacks on Lazarus Group, a codename assigned by the cyber-security industry to North Korea’s military hacking units.

By  Catalin Cimpanu

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