North Korea Upbraided for 2 Crypto Scams, 5 Crypto Trading Platform Deadly Hacks

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Oct 27, 2018 at 10:14 // News

North Korea’s hackers and operatives have entirely adopted crypto as a away of circumventing international penalties and collecting funds for the Pyongyang (the country’s capital city) regime.


Group-IB and Recorded Future have released two reports in the last two weeks, which show the intensity to which North Korea has reached to do so, depending on hacks of digital currency trading platforms, executing crypto-related scams, and also forming a amply-operational  scam coin.   

Successful Attacks on Crypto Exchanges   


Among these, the highly successful were the North Korea’s cyber-attacks aiming at digital currency exchanges. A
Group-IB report that was published last week showed 5 out of 14 digital currency exchange hacks on Lazarus Group, a codename designated by the cyber-security sector to N.Korea’s military hacking groups.   


Group-IB pinned Lazarus Group for efficacious hacks at crypto exchanges like YouBit, Bithumb, Yapizon, Coincheck and Coinis, across last year and this year. Generally, North Korean deadly hackers illegally grabbed around $571 million from the 5 crypto exchanges, as the report revealed.

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