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Crypto jacking syndicate linked to North Korea leader Kim Jong-un

crypto jacking syndicate

A crypto jacking syndicate that is fast spreading across the globe has been linked to Kim Jong-un, the North Korea leader. The well-organized scamming network targets not only Bitcoin but other crypto assets as well. The Korean leader is using a group known as Lazarus that employs phishing tactics to steal crypto.

In a move seen as a way for Kim Jong-un to cushion the Asian country against the current economic woes is targeting crypto in perpetuating cybercrimes.  According to the latest report, the leader has turned to Lazarus to steal cryptocurrencies using state-of-the-art phishing scams.

Global crypto jacking syndicate mastermind

Apart from the crypto jacking syndicate, the North Korean hacking group has been linked with attacking Sony Pictures soon after the company released the film title ‘The Interview’. The Lazarus hacking outfit together with other hackers has also been accused of stealing more than $570 worth of crypto from unsuspecting exchanges.

The country’s economy has been badly hit by the COVID-19 pandemic on top of international sanctions that are still in place. This has prompted the hacker group to intensify its activities. It has been using Advanced Persistent Threats (APTs) in their crypto jacking syndicate.

EST Security had hinted that the attackers are backed by powerful government officials. However, the cybersecurity firm headquartered in Seoul goes on to add that cybercrimes are not restricted to the Asian market but are global. However, the syndicate goes beyond improving the local economy.

Nuclear weapons and crypto jacking syndicate link

The North Korean backed crypto jacking syndicate has been linked with funding the country’s nuclear project. EST Security adds that the Lazarus team is using well-crafted emails that pass as job offers. Once the email users open the mail, malware is automatically installed in their gadgets and their crypto stolen.

COVID-19 pandemic charities have been targeted by crypto scams. It is not only Lazarus hackers out there; others are using malware through file sharing targeting major corporations to steal crypto. The increase has reached a level where action needs to be taken now that more people across the globe are using virtual currency due to the continuing coronavirus induced lockdown.

Albert Kim

Albert Kim

Albert Kim is a full time tech content developer and writer specializing in blockchain and cryptocurrencies. He has been in the tech industry for the last 7 years helping businesses scale up their potential to the next level.

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