FBI Warns of North Korean Hackers Targeting U.S. Bitcoin And Crypto ETFs

Today, the FBI issued an alert warning that North Korean hackers are targeting U.S. cryptocurrency exchange-traded funds (ETFs) in a bid to steal digital assets. The hackers are using advanced social engineering techniques to breach the security of companies associated with these financial products, the FBI stated.

According to the FBI, the Democratic People’s Republic of Korea (DPRK) has been conducting highly targeted social engineering attacks on employees within the decentralized finance (DeFi) and cryptocurrency industries. These attacks involve detailed pre-operational research and customized scenarios designed to exploit the victim’s specific interests and connections.

“North Korean malicious cyber actors conducted research on a variety of targets connected to cryptocurrency exchange-traded funds (s) over the last several months,” the FBI said. “This research included pre-operational preparations suggesting North Korean actors may attempt malicious cyber activities against companies associated with cryptocurrency ETFs or other cryptocurrency-related financial products.”

The FBI emphasized that North Korean cyber actors are a persistent threat to organizations managing large quantities of cryptocurrency. Their tactics include impersonating trusted contacts, creating fake scenarios involving job offers or investments, and deploying malware through prolonged and convincing interactions with their targets.

The agency urged businesses in the cryptocurrency sector to adopt stringent security measures, including multi-factor authentication, limiting access to sensitive information, and verifying the identities of contacts through multiple channels. The FBI also recommended that companies with access to significant cryptocurrency holdings take extra precautions to safeguard their assets against these sophisticated cyber threats.