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North Korea Leader Backs Hacking Group To Steal Crypto From Exchanges

According to a news report by Mirror, North Korean leader Kim Jong-un has specifically asked Lazarus, a hacker group based in North Korea to scam unsuspecting exchanges of their crypto assets with phishing scams to reduce the effects of coronavirus. The leader of the Asian nation is known to have a controversial personality has again outdone himself with the latest news that was reported by Mirror. The Lazarus group, which was responsible for the hack of Sony pictures days before the release of the Hollywood movie, The interview.

Lazarus With Two Other Hacking Group Stole Crypto Worth $571m From Exchanges.

The North Korean hacking group joined hands with two other hacking groups to hack and steal crypto assets worth $571m from crypto exchanges from January 2017 to September 2018. With the Coronavirus pandemic biting hard on the North Korean economy, the president has backed the group to use APT based attacks to trick and steal from crypto assets firms. Seoul based intelligence agency has stated that it has been able to intercept attacks from the group’s APT hack and thinks that the group is backed by a government to perform in and out of the country cyber attacks.

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North Korea Rumoured To Use Crypto Funds To Sponsor Nuclear Weapons

North Korea has been suspected of using proceeds from the crypto funds hack to sponsor its missile and nuclear war propaganda. Regarding what the Seoul intelligence said about the attacks, the outfit said that the group could not carry out operations without a government backing which has seen crypto-based hack crimes increase in and out of the region. The security outfit further stated that the group’s modus operandi was to send unsuspecting emails to individuals who always had something to do with exciting job offers to spread malware that would steal the crypto.

The increase of crypto-based hacks has increased drastically since the Coronavirus pandemic first started with the company saying they have been trying hard to intercept malicious document-oriented scams around the country. The recently increased threats have required special attention with IT technicians working overtime amid the Coronavirus pandemic lockdown that has threatened the globe.

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North Korea has not recorded any case of the novel virus with the USA, making the Top 3 list of the most infected countries with close to a million infections across the country. Kim Jong-un, who was reported to have died some weeks ago, has resurfaced backing the hacking group to steal crypto funds to better the economy.

Ifaenyi Egede (Nigeria)

Ifeanyi Egede is a new writer on Tokenhell, his articles are cryptocurrency news and platform review based. We recommend following his latest posts as they are always very informative and super interesting.

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