North Korea Targeting Cryptocurrency Startups!

18 January 2022 Internet, IT & e-Discovery Blog Blog
Author(s): Peter Vogel

BankInfoSecurity.com reported that “BlueNoroff, a suspected North Korea-backed nation-state group, is victimizing small and mid-sized cryptocurrency startups in a campaign called "SnatchCrypto…"  The January 14, 2022 report entitled “North Korean APTs Target Cryptocurrency Startups” included new research published by Kaspersky (cybersecurity and antivirus firm) who calls tactics leveraged by the attackers "extensive and dangerous":

…the latest SnatchCrypto campaign operates through social engineering tactics, such as impersonating phony crypto-related companies or major venture capital firms.

Then, attackers contact individuals via social media - usually Twitter or LinkedIn - providing a means to infect the user's device through spear-phishing, and ultimately breaching the organization's network, the researchers say.

The startup crypto sphere was chosen by cybercriminals for a reason: Startups often receive letters or files from unfamiliar sources,...which allows the attackers to more easily transfer infected files.

The researchers recently provided a presentation to walk through the attack scenario and experts weighed in on how robust regulations in the cryptocurrency sphere, as well as security best practices and user education, can lessen the chances of these nation-states conducting cyberattacks.

Very bad news, but no surprises!

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