The FBI has issued a warning that North Korean hackers are targeting U.S. cryptocurrency exchange-traded funds (ETFs) in an attempt to steal digital assets. These hackers are utilizing advanced social engineering techniques to breach the security of companies associated with these financial products, according to the FBI.
The Democratic People’s Republic of Korea (DPRK) has been conducting highly targeted social engineering attacks on employees within the decentralized finance (DeFi) and cryptocurrency industries, the FBI stated. These attacks involve detailed pre-operational research and customized scenarios designed to exploit the victim’s specific interests and connections.
“North Korean malicious cyber actors conducted research on a variety of targets connected to cryptocurrency exchange-traded funds over the last several months,” the FBI said. “This research included pre-operational preparations suggesting North Korean actors may attempt malicious cyber activities against companies associated with cryptocurrency ETFs or other cryptocurrency-related financial products.”
The FBI highlighted that North Korean cyber actors pose a persistent threat to organizations managing large quantities of cryptocurrency. Their tactics include impersonating trusted contacts, creating fake scenarios involving job offers or investments, and deploying malware through prolonged and convincing interactions with their targets.
Businesses in the cryptocurrency sector are urged to implement stringent security measures, such as multi-factor authentication, limiting access to sensitive information, and verifying the identities of contacts through multiple channels. The FBI also recommended that companies with access to significant cryptocurrency holdings take extra precautions to safeguard their assets against these sophisticated cyber threats.
