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How North Koreans Infiltrated the Crypto Industry to Fund the Regime
Episode 715
The crypto community is facing a new kind of threat—North Korean devs are infiltrating crypto companies to steal millions and funnel funds back to the regime in order to bypass sanctions.
In this episode, Sam Kessler, CoinDesk’s deputy managing editor for tech and protocols, and Taylor Monahan, security at MetaMask, explain how North Korea has embedded its operatives into the crypto space, the red flags companies should watch for, and what these hackers are doing once inside crypto firms.
Plus, they share their most interesting stories about how these hackers have gotten hired at crypto companies and the red flags the industry should know about.
Show highlights:
- What Sam found in his investigation about North Koreans infiltrating the industry
- How Taylor has found that this is a recurring issue
- Why Sam and Taylor refer to these infiltrated workers as ‘IT’ workers
- The most interesting stories that Sam and Taylor have discovered
- The trends in the hiring process that lead to North Koreans being hired and also what the big red flags are
- How “easy it is to de-anonymize” addresses and transactions in blockchains
- What assets and networks these workers often use to get paid
- How, after infiltrating a company, those projects get hacked
- How to deal with a situation in which you’ve already hired North Koreans
- How to protect a protocol from another type of North Korean hack: by hacking groups
- Whether the industry is getting better at security
Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com
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Guests:
- Sam Kessler, CoinDesk's deputy managing editor for tech and protocols
- CoinDesk: How North Korea Infiltrated the Crypto Industry
- Taylor Monahan, Co-Founder of MyEtherWallet
- Previous appearances on Unchained:
- The QuadrigaCX Case: Taylor Monahan on What We Know From the Blockchain
- MyCrypto's Taylor Monahan on Why She's Not a Fan of ICOs
Links
- Previous coverage of Unchained on North Korea:
- Why North Korea Is Interested in Cryptocurrency
- Yeonmi Park on Why Doing Business With North Korea Is Like Buying a Ticket to a Concentration Camp
Others:
- DL News: North Korean hackers are infiltrating crypto job boards in a ‘quiet war’ that rakes in $600m
- FBI PSA: North Korea Aggressively Targeting Crypto Industry with Well-Disguised Social Engineering Attacks
- Chainalysis:
- 2024 Crypto Crime Mid-year Update Part 1: Cybercrime Climbs as Exchange Thieves and Ra
Published on 1 year, 2 months ago