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“Cybercrime threatens the crypto industry, with North Korean hackers recently pilfering $40 million in bitcoin. As the crypto industry scales, it presents both substantial rewards and dangerous security risks, attracting criminals who cash out significant sums anonymously. Proactive security measures are critical to counter these challenges.”

“TRM Labs reported that North Korean hackers have stolen over $2 billion in cryptocurrencies in the past five years. The criminals focused on the fast-growing DeFi sector, using techniques such as supply chain attacks, phishing, and infrastructure hacks. Interestingly, despite a broad decrease in crypto thefts in 2023, North Korea’s crypto crimes persisted.”

“North Korean cybercriminals have reportedly stolen an estimated $2 billion in cryptocurrency over the past five years, according to TRM Labs. Their targets increasingly include the decentralized finance (DeFi) ecosystem. The hackers use advanced attack methodologies and complex money laundering techniques, posing a significant threat to the crypto security landscape.”

“A recent report by CER revealed that only six out of 45 reviewed crypto wallets conducted penetration testing to identify security vulnerabilities. Despite the alarming number, some wallet brands are using alternative methods like bug bounties to uncover vulnerabilities, thereby raising questions about the effectiveness of current security strategies in protecting digital assets.”

“The Ukrainian firm CoinsPaid fell victim to a cyber heist that resulted in an estimated loss of $37.3 million in crypto assets. The attack was reportedly orchestrated via social engineering attempts using LinkedIn and involved malicious usage of software called JumpCloud. It’s believed that this crime mirrors the tactics of the North Korean Lazarus Group, highlighting the evolving complexity of cybercrime in the digital marketplace.”

“Rodeo Finance on the Arbitrum network lost 472 ether ($888,000) in a crypto exploit. The hacker utilized Oracle manipulation techniques to adjust price feeds and exchange stolen tokens into diverse assets, before converting them back into ether. Such incidents highlight the increasing risk and vulnerability in the DeFi domain.”

A fan-made Super Mario game, Mario Forever, reportedly carries malware that can hijack users’ crypto wallets and secretly install crypto mining software. Cyble Research & Intelligence Labs discovered the game’s installer includes malicious software and XMR Miner, which covertly runs a Monero cryptocurrency miner on users’ computers. Additionally, the installer contains files for installing Umbral Stealer, an information stealer targeting Ethereum, Zcash, and Bytecoin wallets. The case underscores the importance of caution when downloading software, especially from unofficial sources.

Hackers targeted Atomic Wallet, stealing $35 million and using THORChain to launder their gains. Blockchain analysis firm MistTrack tracked the stolen funds, exposing the transparency of blockchain technology. Yet, concerns about digital asset security and decentralization misuse persist.

North Korean cybercriminals allegedly targeted South Korean ministers in a crypto hacking campaign, seizing a server with two cryptocurrency wallet addresses. Authorities continue to investigate if this is an attempt to steal funds or access valuable information, emphasizing the importance of robust security measures for users and institutions.