North Korea Targeting Japanese Crypto Exchanges

North Korea Targeting Japanese Crypto Exchanges

Written by Moli Mishra, In Crypto, Published On
December 6, 2022
, 79 Views

Crypto trading is a trending investment option these days. Most investors choose digital assets over other traditional financial assets. But it involves risks as well because the market is in a decentralized form. There are no governing bodies in this market and no government backup. And are you looking for a safe crypto trading platform to invest in Bitcoin?  Then go to http://bitcoin-revolution.software. It is a secure and reliable platform used by millions of investors. 

Also, this Cryptocurrency industry is gaining so much fame that it is the target of many cybercriminals. If any exchange gets hacked, the accounts of all the users come under threat. The Japanese Cryptocurrency exchanges are facing similar threats from cybercriminals in North Korea. These hackers seem to have had an eye on the Japanese exchanges for quite a long time now. 

Reports On This Aspect

North Korea Targeting Japanese Crypto Exchanges

Japan News is providing a report on this matter and includes information from the nation’s NPA. Different Cryptocurrency exchanges in the nation have been experiencing similar kinds of cyber attacks from time to time. These attacks are being carried out by Lazarus Group, which is known for its cyber crimes. 

The agency believes that this group is controlled and monitored by the authorities of North Korea or the government of this nation. These facts reflect that this nation is after hacking the Cryptocurrency exchanges in Japan. With this, the market of digital assets in Japan will be distorted by all these cyber attacks. 

The attack was carried out with the aid of phishing emails. When the employees of all the victim firms opened these emails, the devices for affected by the virus. The hacker group sent these emails and got access to the computers of the firms. 

Later an investigation was carried out by NPA and the local police. In this inquiry, it was found out that Lazarus Group had been the culprit behind this entire situation. And behind all the cyber attacks on these firms were done by this group! 

More On These Attacks 

The hacker groups of North Korea like Lazarus are targeting Japanese Cryptocurrency exchanges for a long time. While recent cyber attacks took place, NPA made the details related to it accessible to the public. With this step, they want to create awareness among the public about the cases of cyber attacks. 

Another report by U.Today states that Southeast Asia’s growing Crypto industry is the main target of this hacker group. They want to create disturbances in this market and get access to the same. Most of the biggest cyber crimes that happened this year were operated by Lazarus. Some of the main attacks of this group include the Ronin heist and others. 

These hackers depend on Tornado Cash Mixer for gathering funds. Due to this, the U.S.A. government banned Crypto tumbler. 

Types Of Cryptocurrency Attacks 

As the Crypto industry remains unregulated, it has high risks of cyber-attacks! And, it has gone through these attacks over time. 

Some of the most common forms of Cyber attacks on Crypto firms are –

Phishing:

Here, the hackers try to get access to the platforms by stealing Aaj the login details. They steal these details with the help of fake emails. 

Social Engineering:

With this, the firms or individuals fall into their tricks and transfer a large number of tokens. This transfer is deposited in the digital wallets of these hackers. 

Exchange Hacks:

These are some kind of external hacks that is applied to Cryptocurrency exchanges. The hackers take benefit of the weakness or defects of these exchanges. 

51% Vulnerabilities:

In this attack, these hackers get access to more than half the Blockchain’s hashing power. With this, they can perform reverse transactions and similar other activities. This attack is also called a majority attack at times! 

Conclusion

These cyber-attacks are becoming more common these days. With Cryptocurrencies gaining much attention worldwide, hackers are after this market as well. At times, it becomes even easier to hack these Crypto firms as these are unregulated. 

The hackers from North Korea are after the Crypto firms of Japan along with the entire Southeastern Crypto market. As the market is flourishing in this region, they want to get access to similar and have some good profits. 

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