Multiple United States agencies have raised a joint alarm against the risks of cyberattacks on cryptocurrency platforms by North Korean state-sponsored hackers. The warning came after the US Treasury tied the Ronin Network hack to the notorious Lazarus Group.
The warning notice, released on Monday by the Federal Bureau of Investigation (FBI), the Cybersecurity and Infrastructure Security Agency (CISA), and the Treasury, also named other North Korean hacker groups, including APT38, BlueNoroff and Stardust Chollima, that are also active and targeting blockchain platforms.
All of these hacker groups are targeting a wide range of blockchain
Blockchain
Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others.
Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others.
Read this Term platforms that include “cryptocurrency exchanges, decentralized finance (DeFi) protocols, play-to-earn cryptocurrency video games, cryptocurrency trading companies, venture capital funds investing in cryptocurrency and individual holders of large amounts of cryptocurrency or valuable non-fungible tokens (NFTs).”
Hundreds of Millions of Dollars Siphoned
According to a Chainalysis report, North Korean hackers stole almost $400 million in cryptocurrencies from attacking crypto platforms. But, the Lazarus Group alone siphoned around $625 million worth of cryptos from the Ronin Network last March.
The US Treasury directly linked Lazarus to the Ronin hack and sanctioned an Ethereum wallet tied to the attack. Now any known entity making transactions with that sanctioned wallet address will also risk US sanctions. Moreover, it is the first time the US sanctioned a North Korea hacker-linked crypto wallet.
Despite the alerts and the tightening of cybersecurity
Cybersecurity
Cybersecurity is a blanket term that refers to the protection of computer systems and networks from the theft.More broadly speaking, cybersecurity can also represent countermeasures against damage to hardware, software, or electronic data, as well as from the disruption or misdirection of the services they provide.It was not long ago that the term cybersecurity not exist as it was first used in 1989. In today’s vernacular cybersecurity, refers to measures taken to protect a computer or computer system or a network against hacking or unauthorized access. Why Cybersecurity MattersCybersecurity is a huge concern for individuals given our reliance on computers, laptops, smart phones, the Internet, etc.These cyberattacks are usually aimed at accessing, changing, or destroying sensitive information, extorting money from users, or interrupting normal business processes. Implementing effective cybersecurity measures is particularly challenging today because there are more devices than people, and attackers are becoming more innovative. In the modern world, with every person and business connected, everyone benefits from advanced cyber-defense programs. At an individual level, a cybersecurity attack can result in everything from identity theft, to extortion attempts, to the loss of essential data like family photos. Everyone relies on critical infrastructures like power plants, hospitals, and financial service companies. Securing these and other organizations is vital to keeping our society functioning. Significant sources of cybersecurity threats include phishing, ransomware, malware, and social engineering, among others.With the rise of cryptocurrencies over the past decade, cybersecurity has also reached even greater importance a safeguard against abuse.
Cybersecurity is a blanket term that refers to the protection of computer systems and networks from the theft.More broadly speaking, cybersecurity can also represent countermeasures against damage to hardware, software, or electronic data, as well as from the disruption or misdirection of the services they provide.It was not long ago that the term cybersecurity not exist as it was first used in 1989. In today’s vernacular cybersecurity, refers to measures taken to protect a computer or computer system or a network against hacking or unauthorized access. Why Cybersecurity MattersCybersecurity is a huge concern for individuals given our reliance on computers, laptops, smart phones, the Internet, etc.These cyberattacks are usually aimed at accessing, changing, or destroying sensitive information, extorting money from users, or interrupting normal business processes. Implementing effective cybersecurity measures is particularly challenging today because there are more devices than people, and attackers are becoming more innovative. In the modern world, with every person and business connected, everyone benefits from advanced cyber-defense programs. At an individual level, a cybersecurity attack can result in everything from identity theft, to extortion attempts, to the loss of essential data like family photos. Everyone relies on critical infrastructures like power plants, hospitals, and financial service companies. Securing these and other organizations is vital to keeping our society functioning. Significant sources of cybersecurity threats include phishing, ransomware, malware, and social engineering, among others.With the rise of cryptocurrencies over the past decade, cybersecurity has also reached even greater importance a safeguard against abuse.
Read this Term, the US agencies do not believe to see a downturn in such attacks on crypto platforms anytime soon.
“These actors will likely continue exploiting vulnerabilities of cryptocurrency technology firms, gaming companies, and exchanges to generate and launder funds to support the North Korean regime,” the government’s warning stated.
Earlier, a United Nations report revealed that the North Korean regime is using the stolen cryptocurrencies to fund its nuclear missile programs. A US court recently jailed the Co-Founder of Ethereum, Virgil Griffith, for educating North Koreans on the use of cryptocurrencies to evade sanctions.
Multiple United States agencies have raised a joint alarm against the risks of cyberattacks on cryptocurrency platforms by North Korean state-sponsored hackers. The warning came after the US Treasury tied the Ronin Network hack to the notorious Lazarus Group.
The warning notice, released on Monday by the Federal Bureau of Investigation (FBI), the Cybersecurity and Infrastructure Security Agency (CISA), and the Treasury, also named other North Korean hacker groups, including APT38, BlueNoroff and Stardust Chollima, that are also active and targeting blockchain platforms.
All of these hacker groups are targeting a wide range of blockchain
Blockchain
Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others.
Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others.
Read this Term platforms that include “cryptocurrency exchanges, decentralized finance (DeFi) protocols, play-to-earn cryptocurrency video games, cryptocurrency trading companies, venture capital funds investing in cryptocurrency and individual holders of large amounts of cryptocurrency or valuable non-fungible tokens (NFTs).”
Hundreds of Millions of Dollars Siphoned
According to a Chainalysis report, North Korean hackers stole almost $400 million in cryptocurrencies from attacking crypto platforms. But, the Lazarus Group alone siphoned around $625 million worth of cryptos from the Ronin Network last March.
The US Treasury directly linked Lazarus to the Ronin hack and sanctioned an Ethereum wallet tied to the attack. Now any known entity making transactions with that sanctioned wallet address will also risk US sanctions. Moreover, it is the first time the US sanctioned a North Korea hacker-linked crypto wallet.
Despite the alerts and the tightening of cybersecurity
Cybersecurity
Cybersecurity is a blanket term that refers to the protection of computer systems and networks from the theft.More broadly speaking, cybersecurity can also represent countermeasures against damage to hardware, software, or electronic data, as well as from the disruption or misdirection of the services they provide.It was not long ago that the term cybersecurity not exist as it was first used in 1989. In today’s vernacular cybersecurity, refers to measures taken to protect a computer or computer system or a network against hacking or unauthorized access. Why Cybersecurity MattersCybersecurity is a huge concern for individuals given our reliance on computers, laptops, smart phones, the Internet, etc.These cyberattacks are usually aimed at accessing, changing, or destroying sensitive information, extorting money from users, or interrupting normal business processes. Implementing effective cybersecurity measures is particularly challenging today because there are more devices than people, and attackers are becoming more innovative. In the modern world, with every person and business connected, everyone benefits from advanced cyber-defense programs. At an individual level, a cybersecurity attack can result in everything from identity theft, to extortion attempts, to the loss of essential data like family photos. Everyone relies on critical infrastructures like power plants, hospitals, and financial service companies. Securing these and other organizations is vital to keeping our society functioning. Significant sources of cybersecurity threats include phishing, ransomware, malware, and social engineering, among others.With the rise of cryptocurrencies over the past decade, cybersecurity has also reached even greater importance a safeguard against abuse.
Cybersecurity is a blanket term that refers to the protection of computer systems and networks from the theft.More broadly speaking, cybersecurity can also represent countermeasures against damage to hardware, software, or electronic data, as well as from the disruption or misdirection of the services they provide.It was not long ago that the term cybersecurity not exist as it was first used in 1989. In today’s vernacular cybersecurity, refers to measures taken to protect a computer or computer system or a network against hacking or unauthorized access. Why Cybersecurity MattersCybersecurity is a huge concern for individuals given our reliance on computers, laptops, smart phones, the Internet, etc.These cyberattacks are usually aimed at accessing, changing, or destroying sensitive information, extorting money from users, or interrupting normal business processes. Implementing effective cybersecurity measures is particularly challenging today because there are more devices than people, and attackers are becoming more innovative. In the modern world, with every person and business connected, everyone benefits from advanced cyber-defense programs. At an individual level, a cybersecurity attack can result in everything from identity theft, to extortion attempts, to the loss of essential data like family photos. Everyone relies on critical infrastructures like power plants, hospitals, and financial service companies. Securing these and other organizations is vital to keeping our society functioning. Significant sources of cybersecurity threats include phishing, ransomware, malware, and social engineering, among others.With the rise of cryptocurrencies over the past decade, cybersecurity has also reached even greater importance a safeguard against abuse.
Read this Term, the US agencies do not believe to see a downturn in such attacks on crypto platforms anytime soon.
“These actors will likely continue exploiting vulnerabilities of cryptocurrency technology firms, gaming companies, and exchanges to generate and launder funds to support the North Korean regime,” the government’s warning stated.
Earlier, a United Nations report revealed that the North Korean regime is using the stolen cryptocurrencies to fund its nuclear missile programs. A US court recently jailed the Co-Founder of Ethereum, Virgil Griffith, for educating North Koreans on the use of cryptocurrencies to evade sanctions.
