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North Korean hackers infiltrate crypto projects as employees
The post North Korean hackers infiltrate crypto projects as employees appeared on BitcoinEthereumNews.com. Hacks of crypto projects are often linked to inside information leaks. New on-chain data reveals North Korean hackers may deliberately target crypto startups, gaining trust to become employees. North Korean hackers get a step closer to crypto exploits, by becoming the employees of crypto projects. The past six months saw a return to exploits, both against projects and individual wallets. Also Read: North Korea backed Lazarus Group linked to $305 million DMM Bitcoin hack On-chain investigator ZachXBT noted that North Korean hackers were also not careful about hiding their tracks. Some of them went as far as to tie their wallet actions to an ENS human-readable and well-known name. The exploits have affected the Munchables game team, leading to a hack in March 2024. The game lost between $62M and $64M in ETH, which were later returned by the hacker. Attacks continue to undermine the trust in Web3 features, as projects are prone to multiple types of exploits. Some Web3 projects admit volunteer developers, while others face exploits from tainted code builds. Other vectors of attacks noted in the past few days include flash loans against protocols. The most recent exploits involved Minterest, with a $1.4M flash loan, as well as Dough Finance, losing $1.9M. The Minterest funds were immediately sent to the Tornado Cash mixer, and may not be immediately recoverable. Additionally, the sites of several large Web3 protocols were compromised, replacing links to their normal facilities with wallet drainers. The exploit even affected Curve Finance, which has since recovered its site, though it invites further caution in interacting with Web3 links. Even when remaining relatively anonymous, a pattern of laundering funds points to the involvement of Lazarus. Some of the funds are additionally mixed, but instead sent to a list of small non-KYC exchanges. A recent hack showed…
The post North Korean hackers infiltrate crypto projects as employees appeared on BitcoinEthereumNews.com.
Hacks of crypto projects are often linked to inside information leaks. New on-chain data reveals North Korean hackers may deliberately target crypto startups, gaining trust to become employees. North Korean hackers get a step closer to crypto exploits, by becoming the employees of crypto projects. The past six months saw a return to exploits, both against projects and individual wallets. Also Read: North Korea backed Lazarus Group linked to $305 million DMM Bitcoin hack On-chain investigator ZachXBT noted that North Korean hackers were also not careful about hiding their tracks. Some of them went as far as to tie their wallet actions to an ENS human-readable and well-known name. The exploits have affected the Munchables game team, leading to a hack in March 2024. The game lost between $62M and $64M in ETH, which were later returned by the hacker. Attacks continue to undermine the trust in Web3 features, as projects are prone to multiple types of exploits. Some Web3 projects admit volunteer developers, while others face exploits from tainted code builds. Other vectors of attacks noted in the past few days include flash loans against protocols. The most recent exploits involved Minterest, with a $1.4M flash loan, as well as Dough Finance, losing $1.9M. The Minterest funds were immediately sent to the Tornado Cash mixer, and may not be immediately recoverable. Additionally, the sites of several large Web3 protocols were compromised, replacing links to their normal facilities with wallet drainers. The exploit even affected Curve Finance, which has since recovered its site, though it invites further caution in interacting with Web3 links. Even when remaining relatively anonymous, a pattern of laundering funds points to the involvement of Lazarus. Some of the funds are additionally mixed, but instead sent to a list of small non-KYC exchanges. A recent hack showed…
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