North Korean government-backed group hacked JumpCloud
A North Korean government-backed hacking group penetrated an American IT management company called JumpCloud in late June and used their access to the company’s systems to target its cryptocurrency company clients in an effort to steal digital cash. The hack shows how North Korean cyber spies are now tackling companies that can give them access […]
-
by mike
Share on:
A North Korean government-backed hacking group penetrated an American IT management company called JumpCloud in late June and used their access to the company’s systems to target its cryptocurrency company clients in an effort to steal digital cash. The hack shows how North Korean cyber spies are now tackling companies that can give them access to multiple sources of bitcoin and other digital currencies.
The hackers broke into Louisville, Colorado-based JumpCloud in late June and used their access to the company’s systems to target its cryptocurrency company clients in an effort to steal digital cash. The hack shows how North Korean cyber spies, once content with going after crypto companies one at a time, are now tackling companies that can give them access to multiple sources of bitcoin and other digital currencies
The exact motive behind these attacks is not clear. However, it is widely believed that North Korea has been using cyber attacks to steal cryptocurrency in order to circumvent international sanctions and obtain foreign currency.
North Korean hackers have been known to target cryptocurrency platforms and have been successful in stealing large amounts of digital assets. In 2021, they stole almost $400 million worth of digital assets in at least seven attacks on cryptocurrency platforms. The attacks mainly targeted investment firms and centralized exchanges. The hackers used a number of techniques, including phishing lures, code exploits, and malware to siphon funds from the organizations’ “hot” wallets and then moved them into North Korea-controlled addresses.
One of the most well-known North Korean hacking groups is the Lazarus Group, which is believed to be controlled by North Korea’s primary intelligence bureau, the Reconnaissance General Bureau 2. The Lazarus Group has previously been accused of involvement in the “WannaCry” ransomware attacks, the hacking of international banks and customer accounts, and cyber-attacks on Sony Pictures in 2014.
North Korea’s cybercrime program is hydra-headed, with tactics ranging from bank heists to the deployment of ransomware and the theft of cryptocurrency from online exchanges. It is difficult to quantify how successful Pyongyang’s hackers have been. North Korea is also the only nation in the world whose government is known to conduct nakedly criminal hacking for monetary gain.
Experienced Developer with a demonstrated history of working in the computer software industry.
SafeMoon Team in Hot Water: Arrested and Charged!
SafeMoon, a crypto company that has been accused of fraud and unregistered offering of crypto securities by the SEC and the DOJ. Authorities charged SafeMoon’s creator Kyle Nagy, CEO John Karony, and CTO Thomas Smith with conspiracy to commit securities fraud, wire fraud, and money laundering. The defendants allegedly promised investors that they had safely […]
Tedi Talks: Why Crypto-Coins and AI Matter Now
Tedi Ticic is a well-known name in the world of cryptocurrency. He blazed a trail in the field and received recognition for his contributions to the industry. In one of his recent articles, he discusses the importance of crypto-coins and AI in the modern era. Tedi Ticic is a cryptocurrency trader, author, and mentor from Croatia, Europe. […]
David Schwartz Talks Tokenization:
XRPL’s Exciting Future Unveiled. Ripple CTO David Schwartz recently shared his timeline for tokenization on the XRP Ledger (XRPL). David Schwartz anticipates real-world asset tokenization on XRP Ledger within the next year or year and a half. This statement was made in a video shared by the Flip The Chain team on Oct. 13, 2023. […]
Most read
