Today, the FBI released a warning that North Korean hackers are targeting U.S. cryptocurrency exchange-traded funds (ETFs) with the intent to steal digital assets. The hackers are deploying advanced social engineering tactics to infiltrate the security of firms linked to these financial products, as noted by the FBI.
According to the FBI, the Democratic People’s Republic of Korea (DPRK) has been executing highly targeted social engineering campaigns aimed at employees within the decentralized finance (DeFi) and cryptocurrency sectors. These campaigns involve extensive pre-operational research and tailored scenarios intended to exploit the specific interests and connections of the victims.
“North Korean malicious cyber actors have conducted research on various targets connected to cryptocurrency exchange-traded funds (ETFs) for several months,” the FBI stated. “This investigation included pre-operational preparations indicating that North Korean actors may attempt to engage in malicious cyber activities against firms linked to cryptocurrency ETFs or other crypto-related financial products.”
The FBI stressed that North Korean cyber actors represent a continual threat to organizations that manage substantial amounts of cryptocurrency. Their strategies include impersonating trusted contacts, creating deceptive scenarios involving job offers or investments, and utilizing malware through extended and convincing interactions with their targets.
The agency called on businesses within the cryptocurrency industry to implement robust security measures, such as multi-factor authentication, restricting access to sensitive information, and verifying the identities of contacts through various channels. The FBI also advised companies holding significant cryptocurrency assets to take additional steps to protect their holdings against these advanced cyber threats.
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