Rising Sophistication of North Korean Cybercriminals Targeting Cryptocurrency and ETFs

• The FBI warns that North Korean cybercriminals are conducting sophisticated phishing scams to steal cryptocurrency.
• The US Treasury Department sanctions Ethereum mixing tool Tornado Cash, banning American citizens from using it.
• The FBI alerts that North Korean actors may attempt malicious cyber activities against cryptocurrency ETFs.
• Bitcoin's hash rate reaches an all-time high, indicating a strong network.
• The SEC approved spot Bitcoin and Ethereum ETFs, allowing traditional investors to invest in cryptocurrencies.
• Lazarus Group, a North Korean state-sponsored hacking group, uses mixing tools to hide stolen funds.
  

Summary :
North Korean cybercriminals are becoming more sophisticated in their attempts to steal cryptocurrency, particularly targeting those connected to digital asset exchange-traded funds (ETFs), according to the FBI. The agency warned that these criminals are using difficult-to-detect social engineering campaigns, such as phishing scams, to impersonate others or offer fake job opportunities in order to steal personal information. The FBI also stated that even individuals well-versed in cybersecurity practices can be tricked by these advanced scams. In a separate development, the US Treasury Department has blacklisted Tornado Cash, an Ethereum coin mixing tool, and banned American citizens from using the tool or transacting with associated addresses. Tornado Cash allows users to make private transactions on the Ethereum network by pooling together cryptocurrency and mixing them. The FBI alert did not specifically mention any cryptocurrencies, but Bitcoin ETFs are the most prominent in the US market and have been trading since January. The FBI did not provide immediate responses to Decrypt's questions. It is worth noting that North Korean actors frequently target crypto companies and protocols, with state-sponsored hacking group Lazarus Group allegedly using mixing tools like Tornado Cash to hide stolen funds. Chainalysis, a blockchain data firm, has reported that the group steals hundreds of millions of dollars in crypto each year by targeting exchanges and platforms.

Sources :

- Decrypt