The FBI warns against storing private crypto wallet data on internet-connected devices due to cyberattack risks
The United States Federal Bureau of Investigation (FBI) has recently highlighted a significant cybersecurity threat posed by North Korean cybercriminals targeting the web3 and cryptocurrency sectors.
North Korean cyber criminals are using sophisticated social engineering methods to deceive employees at cryptocurrency and decentralized finance (DeFi) firms. These tactics involve impersonating high-profile figures within a company or creating tailored scenarios based on the victim’s role, skills, or business interests to gain their trust.
North Korean actors have been deeply investigating companies associated with bitcoin exchange-traded funds (ETFs) and other cryptocurrency-related financial products in recent months. Pre-operational research suggests that these criminals could target businesses connected to these items with hostile operations.
The FBI cautions companies against keeping private cryptocurrency wallet data on internet-connected devices as they may be targets of cyberattacks. If these requests originate from unknown sources, companies should exercise caution when deploying non-standard software or apps on their network.
Separate communication channels should be established to authenticate requests and people to stop social engineering attacks and enhance security generally.
Hackers from North Korea have already obtained sensitive data from bitcoin companies by using fictitious job advertising. As of July 2024, North Korean cyber criminals have lost an incredible $3 billion in cryptocurrency assets. This graph illustrates the scope and wide-ranging effects of various cyber threats.
The FBI’s warning serves as a crucial reminder for web3 and cryptocurrency firms to enhance their cybersecurity measures and remain vigilant against these persistent and evolving threats.