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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 […]

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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.

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