Within the clandestine network of North Korean cryptocurrency workers, associated with a $680,000 digital heist
In a series of recent revelations, a group of North Korean IT workers has been exposed for their involvement in major cryptocurrency thefts. Using fake identities, these workers have infiltrated various companies and protocols, posing as contractors and remote workers.
According to tech journalist Muhammad Zul, who focuses on topics such as cloud computing, cybersecurity, and disruptive technology in the enterprise industry, these workers have taken millions from various protocols over time. One of the most notable incidents occurred in June, when a North Korean-linked team was linked to a $680,000 crypto theft from fan-token marketplace Favrr.
ZachXBT, a well-known figure in the crypto community, has been at the forefront of exposing this group. ZachXBT previously alleged that Favrr's chief technology officer, known as "Alex Hong," and some other developers were, in fact, North Korean workers using false identities. ZachXBT also highlighted a lack of cooperation between tech companies and freelance platforms as a factor that makes it easier for these groups to stay active.
The US Treasury has taken action against this issue, sanctioning two people and four companies linked to a similar North Korean IT worker network in July. Chainalysis, a blockchain analysis firm, collaborates with the US Treasury in imposing sanctions on networks of North Korean IT workers involved in major past cryptocurrency thefts.
The North Korean workers often work remotely through platforms like Upwork, using AnyDesk for access to company systems and VPNs to hide their locations. They use Google Drive, Chrome profiles, and the company's Korean-to-English translation tool to manage schedules and communicate in English.
To gather data, siphon funds, or lay the groundwork for future attacks, these workers create at least 31 false identities and apply for developer roles in crypto and blockchain projects. A spreadsheet found on one device listed $1,489.80 in expenses for May, detailing the costs of their ongoing operations.
ZachXBT suggests that crypto and tech firms need to be more thorough in their screening processes to avoid overlooking red flags. The US Treasury's action reflects growing concern over how state-backed cyber teams are targeting private companies, often hiding in plain sight. This group of North Korean IT workers is just one example of the ongoing threat posed by state-sponsored cyber attacks in the digital age.
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