North Korean Hacking Group Targets Crypto Startups

[ad_1]

Cybersecurity firm Kaspersky says hacking group BlueNoroff primarily targets crypto startups in a report released earlier today. The group used phishing campaigns to force crypto startups to install software updates with backdoor access. Although Kaspersky did not specify the amount of stolen cryptocurrency, previous reports provide estimates. Share this article

BlueNoroff, a North Korean hacking group, now primarily targets crypto startups, according to a report by cybersecurity firm Kaspersky.

BlueNoroff only targets crypto startups

The North Korean hacking group known as BlueNoroff almost exclusively targets cryptocurrency startups, according to a new report from Kapersky.

BlueNoroff is a hacking group with ties to the biggest cybercrime group Lazarus, which is known to have close ties to North Korea in the past. It initially targeted banks and the SWIFT payment network, beginning with an attack on the Central Bank of Bangladesh in 2016.

But now BlueNoroff has “shifted [its] focus…only on cryptocurrency businesses” rather than traditional banks, says Kaspersky.

According to the report, the hacking group historically began each attack by “tracking and studying successful cryptocurrency startups” through prolonged phishing campaigns involving internal emails and chats.

BlueNoroff has impersonated several existing cryptocurrency firms, including Cardano’s trading arm, Emurgo, and New York-based venture capital firm Digital Currency Group. He has also impersonated Beenos, Coinsquad, Decrypt Capital and Coinbig.

Kaspersky noted that these companies were not compromised in the attacks.

Hackers would use backdoors

After gaining the trust of the targeted startup and members, the hackers would request the company to install a modified software update with backdoor access, allowing further intrusion.

Then the group would use the backdoor to collect user credentials and monitor user keystrokes. This monitoring of user activity would last “weeks or months”, says Kaspersky.

BlueNoroff often exploited CVE-2017-0199 in Microsoft Office, which allows running Visual Basic scripts in Word documents. The group would also replace browser wallet add-ons, such as Metamask, with compromised versions.

These strategies allowed the company to steal corporate funds as well as “establish an extensive surveillance infrastructure” that informed the group of large transactions.

How much was stolen?

Kaspersky did not specify how much was stolen via these attacks. However, Kaspersky’s Costin Raiu previously identified bZx as one of the targets of BlueNoroff’s SnatchCrypto campaign. This exchange saw $55 million stolen in November 2021.

The US Treasury also suggested that BlueNoroff, along with Lazarus and other subgroups, stole $571 million in cryptocurrency from five exchanges between January 2017 and September 2018. BlueNoroff stole over $1.1 billion to financial institutions by 2018, the Treasury said in the same report. .

Incidentally, analytics firm Chainalysis today suggested that North Korean hackers stole $400 million in 2021. However, that report only mentioned Lazarus in general, not BlueNoroff in particular.

Disclosure: At the time of writing this article, the author of this article owns BTC, ETH, and other cryptocurrencies.

Share this article

Information on or accessible through this website is obtained from independent sources which we believe to be accurate and reliable, but Decentral Media, Inc. makes no representations or warranties as to the timeliness, completeness or accuracy of any information on or accessible through this website. . Decentral Media, Inc. is not an investment adviser. We do not give personalized investment advice or other financial advice. Information on this website is subject to change without notice. Some or all of the information on this website may become out of date, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete or inaccurate information.

You should never make an investment decision about an ICO, IEO or other investment based on the information contained on this website, and you should never interpret or rely in any way on the information on this website like investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO or other investment. We do not accept any compensation in any form for analysis or reporting on any ICO, IEO, cryptocurrency, currency, token sales, securities or commodities.

See full terms and conditions.

Crypto Crime Surpassed $10 Billion in 2021: Report

DeFi security firm ImmuneFi released a report suggesting $10.2 billion was stolen by crypto attacks last year. The report corroborates other similar reports published in recent weeks. $7.5…

Web3 – What it is, what it means and how we will make the transition

We are at the dawn of a new era of the Internet. Little by little, this new digital world, and all that it allows, will gradually become part of…

Crypto crime skyrocketed in 2021, but so did usage: Chainalysis

A significant increase in cryptocurrency-related crime has accompanied the rise of decentralized finance in 2021. While crypto crime rates have reached record highs in absolute numbers, illicit crypto transactions have reached record highs. .

MetaDAO Wins $3.2 Million in Carpet Pulling

A project called MetaDAO snagged around 800 ETH, or $3.2 million, in an apparent carpet scam over the holiday weekend. Holiday Crypto Heist Just before…

[ad_2]