North Korean hackers are exploiting the crypto industry with fake job applications

A new and advanced threat has emerged in the crypto space; North Korean hackers are posting fake applicants on job boards and have earned $600 million. This operation targets crypto projects to obtain sensitive data, hack systems and steal assets. A DL News investigation found that these fake indicators are a major security threat.

According to the United Nations Security Council, more than 4,000 North Koreans have been secretly sent to infiltrate the technology industry, including crypto. According to the council's report, North Korean hackers stole $3 billion worth of crypto assets in 58 suspected cyberattacks over the past 7 years. While the role of fake employees in these attacks remains unclear, experts say this is just the beginning.

This is a huge problem as the industry scales. With Bitcoin ETFs going mainstream and DeFi projects like Solana and Aave growing, demand for developers is higher than ever. Major crypto exchanges like Coinbase and Binance posted more than 1,200 new job openings in May, with the industry growing rapidly.

But the migration of fake indicators goes against the crypto industry's values ​​of anonymity and anonymity. The lack of background checks makes it easier for North Korean operators to be hired by crypto companies. So 95% of customers have stopped hiring fake developers to reduce this risk.

The financials for North Korean crypto workers are huge. Some earn up to $60,000 a month, the top 30% and the rest are officials in Pyongyang. That's a lot of money in a poor country.

In the year North Korea's Lazarus Group is the notorious Lazarus group behind the $540 million Ronin Bridge attack in 2022. In the year Since its inception in 2023, Lazarus has stolen up to $3.4 billion in transactions believed to be financing North Korea's nuclear program. Weapons program in these cyber activities. North Korean hackers are already in, we have to be more careful and be more strict in hiring.

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