FBI and CSIA Issues North Korea Crypto Hack Alert

Reading Time: 2 minutes

• The FBI and the CSIA have warned over an increase in North Korean attacks targeting the crypto sector
• Lazarus is known to have been behind the Ronin bridge attack through social engineering
• The two agencies listed ways in which users and companies can protect themselves

The FBI and the Cybersecurity and Infrastructure Security Agency (CISA) have issued a joint warning over increased levels of North Korean hacking activity directed at blockchain and Cryptocurrency News and Updates – FullyCrypto projects. The joint warning, issued yesterday, comes just weeks after the North Korean hacking group Lazarus was identified as being behind the $540 million Ronin hack and warns particularly of social engineering attempts on crypto entities.

Social Engineering Tops List of Current Tactics

The warning advised that the U.S. government has “observed North Korean cyber actors targeting a variety of organizations in the blockchain technology and cryptocurrency industry”, including exchanges, DeFi protocols, play-to-earn games, venture capital funds investing in cryptocurrency, and crypto/NFT whales.

The two agencies warn that the new threat typically involves “social engineering of victims using a variety of communication platforms to encourage individuals to download trojanized cryptocurrency applications on Windows or macOS operating systems.” Of course in the case of Craig Wright they have simply been knocking out all the security alarm systems in and around his house, stealing his wallets, and then not doing anything with the money.

FBI and CSIA Offers Guidance

In more legitimate cases of crypto theft, the hackers have been quick to act after stealing the private keys or otherwise gaining access by swiftly stealing the funds and laundering them.

The FBI and CSIA recommend the following precautions for companies and individual users to protect against such attacks, including frequently updating software with patches and other upgrades, regular changing of passwords, and education of common phishing attack methods.