South Korean Cybersecurity Firm: NoKor Linked to 30 New Crypto Hacking Incidents

Dec 03, 2018 at 22:23

A South Korean cybersecurity firm has detected as much as 30 new attacks on individual cryptocurrency investors allegedly led by hackers from North Korea.

Kwon Seok-Chul, Cuvepia chief executive officer, mentioned that at present, the attacks involve users of crypto wallets which contain digital assets. He hinted that there could be a more serious issue as the discovery is just an initial review.

He expressed that further assessment of the incident could lead to the discovery of over 100 attacks on crypto wallet users.

“When cryptocurrency (wallets) are hacked, there is nowhere one can make complaints, so hackers are increasingly hacking into (digital currency accounts). Some of the attacks are carried out by sending the victims an email with infected file attachments,” Seok-Chul further explained.

The official detailed that when users download such files, their computers may be infected with malicious malware scripts capable of collecting private account information that allow hackers to steal funds from the wallets.

On the other hand, internet security and research firm IssueMakersLab supported the findings saying that a shift has already been experienced in such attacks as large exchanges and financial institutions already improved security features.

“Direct attacks on exchanges have become harder, so hackers are thinking about alternatively going after individual users with weak security,”expressed Simon Choi, the founder of the company.

Meanwhile, Luke McNamara, principal analyst at Washington-based cybersecurity firm FireEye, stated the possibility that when hackers already understand their targets, they can able to “craft lures specific to those organizations or entities” which makes the threat more effective.

Last October, cybersecurity research org, CryptoGlobe, claimed that there are evidence that North Korea is linked to a “vast” and “illicit” network for raising funds using cryptocurrencies.

They boldly released that the government of North Korea is using advanced internet tools aside from using enablers in Singapore, Thailand, and various other countries.