- Around $3.7 Billion were stolen by scammers in North Korea.
- Lazarus and APT38, are two known North Korean hackers.
- Fake job offers have become an easy for scammers.
Last year, Anne Neuberger, Administration Deputy, and National Security Advisor, Washington DC, mentioned her concerns about cyber security in the crypto market. North Korea’s cyber capabilities were a question of concern here for her.
Neuberger added “North Korea’s missile testing is the top priority for the government authorities, which has taken multiple enforcement actions to defend the country from cyber issues and threats. Imposing sanctions against fraudsters and seizing stolen digital assets are included.
Korean Scamming Scenarios as Per Researches
On June 13, Atomic Wallet was hacked by North Korean hackers, who swiped $100 million worth of digital currency. News of the hack was revealed by a cryptocurrency analytics firm Elliptic.
As per the analytics firm, more than 5,500 digital wallets were stolen by hackers. The heist was done by Lazarus, the North Korean cybercrime gang.
Last year, the Federal Bureau of Investigation (FBI) confirmed that North Korean hackers known as the Lazarus Group, had been found guilty by the Treasury Department of targeting typical framework making its base for the heist. Fraudsters were also responsible for the theft of about $620 Million in cryptocurrency from the virtual game Axie Infinity.
By the end of April 2022, the FBI connected the dots and linked the scenario discovering the scammers behind it.
Lazarus and APT38 were recognized as involved. The North Korean government has identified multiple cryptocurrency hacks over the years.
A report from Google’s Threat Analysis Group clarified that a North Korean hacker group targeted security researchers with custom viruses after contacting them over multiple different platforms, including LinkedIn.
The 2020 summer witnessed Lazarus members targeting employees of cryptocurrency organizations. Around 14 countries were scammed using fake job offers. Scammers have stolen a lot of cryptocurrencies, gradually increasing the amounts in their heists.
Remotely Observed Governmental Strategies for Scams and Scammers
The U.S. government alerted the Democratic People’s Republic of Korea (DPRK) about IT workers getting freelance jobs which could on some scales be used in state-backed attacks.
Researches show how easy it is for anyone to post job offers on behalf of a company on LinkedIn which sets up a trap for victims to fall in.
The FBI has recently warned about the stakes of fake job postings, skimming some common signs from the research and case studies of fraud that people should keep in mind when they receive uninvited job offers.
The growing cryptocurrency market and thefts over the past few years have become a prime concern for U.S. authorities, who are ramping up endeavors to crack down on scammers and illegal crypto schemes.
Last week, the Department of Justice (DOJ) opened charges against two Russians accused of being a part the 2011 hack of cryptocurrency exchange Mt. Gox.
Dr. Naveen Singh is an entrepreneur with achievements in sports, academics, healthcare, innovation, blockchain technology, telecommunications, and philanthropy. He is the Co-Founder and Chief Executive Officer (CEO) of Inery, the first layer-1 blockchain programmed for database management. With Inery, he aligns with his vision of a new paradigm for data to empower web3 and complete decentralization.