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North Korean Hackers Threatened Bithumb With a $16M Ransom

  • North Korean hackers got access to personal data and customers’ funds.
  • The hackers targeted the crypto exchange Bithumb by asking them for 20 billion won.
  • The hackers associated with the theft of $75 million from firms in December 2017.

U.S. Secret Service news reports are finally unveiling details of a North Korean attack on South Korean exchange, Bithumb. According to Maeil Kyungjae, the authorities found that North Korean hackers accessed personal data and customers’ funds. They demanded a ransom payment afterward of 20 billion won ($16 million).

Moreover, he also accused threat actors of sending malicious code through fake job applications to Bithumb employees. This took place during a hiring season that the company had over that year.

The Federal Bureau of Investigation (FBI) cooperated with the South Korean authorities in making the correspondent inquiries on the case. They also left a ransom note. The hackers threatened to “sell or destroy the customer’s virtual currency unless a certain amount is given”.

Although they didn’t specify the cybercriminals’ names in the security report, the U.S. government has given the codename Lazarus Group to the military hacking groups of North Korea.

The Lazarus Group is globally infamous for such thefts. These hackers also conducted a $24.9 million heist from another crypto company in Indonesia in late 2018.

Law enforcement also exposed a case related to an unnamed Slovenian crypto company. Per the court documents, the hackers associated with the theft of $75 million from such a firm in December 2017. They are allegedly responsible for stealing over $1.3 billion in cryptocurrencies and fiat during coordinated cyber-heists over the last few years.

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Calev Ford

A Computer Engineering graduate who writes news focuses on cryptocurrency-related and blockchain technology. He is enjoying using his skills to contribute to informing people of the exciting technological advances that happen every day.

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