North Korean Regime Utilizing Hacking Groups To Perform Crypto Heists: Report

A prominent cybersecurity firm says that the North Korean government is raising money by using hacking groups to perform crypto heists.

According to a new article by internet security company Mandiant, the hermit nation has shifted its focus from stealing coronavirus vaccine research to pilfering digital assets.

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Mandiant says that the nation is now going after financial institutions and companies that provide services related to cryptocurrencies, perceived defectors, media organizations and bloggers.

“Over time, we began to see this organization shift from ‘strictly Covid-19’ efforts to the targeting of defectors, defense and governments, bloggers, media, cryptocurrency services, and financial institutions.

This increase in responsibilities indicates the group has quickly gained the confidence of DPRK’s (Democratic People’s Republic of Korea) senior leadership and likely gained prominence…

The country’s espionage operations are believed to be reflective of the regime’s immediate concerns and priorities, which is likely currently focused on acquiring financial resources through crypto heists, targeting of media, news, and political entities, information on foreign relations and nuclear information, and a slight decline in the once spiked stealing of Covid-19 vaccine research.”

According to the cybersecurity firm, North Korea is likely using the stolen money to fund the development of vaccines and weapons and to sidestep the sanctions placed on them by the United States and other countries.

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“Information collected in these campaigns will possibly be used to develop or produce internal items and strategies, such as vaccines, mitigations to bypass sanctions, funding for the country’s weapons programs, and so on.”

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Featured Image: Shutterstock/Sergey Nivens/Vladimir Sazonov

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