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Increased Cyber Attacks On Individuals Rather Than Crypto Exchange : Report.

In line with a recent report published by South China Morning, the chief operating officer of cybersecurity firm named ‘Cuvepia’ declared that his company detected over thirty Cyber Attacks on crypto-bearing people mostly by the hackers of North Korean.

Kwon Seok-Chul, the chief operating officer of the said South Korean cybersecurity company, aforementioned that the new targets of the North Korean Cyber Attackers are simply normal individuals investing in the cryptocurrencies. Adding further he said that a lot of these Cyber Attacks in probability haven’t been detected so far, and there could have been over a more than hundred attacks.

In line with the article, the “targeting of people holding virtual currencies like Bitcoin [BTC] marks a departure from the previous strategies.” As reported previously also, North Korea allegedly backed 2 cryptocurrency scams and Cyber Attacks this year: hacks funded by the country reportedly comprise of around 65% of all cryptocurrency purloined until now.

Simon Choi, founding father of cyber warfare research and analysis company IssueMakersLab, attributes the shift towards victims to cybersecurity enhancements by exchanges and monetary institutions:

“Direct attacks on exchanges have became tougherthus hackers are considering instead going after the individual users with weak security.”

Choi conjointly aforementioned that the majority these cyber attacks target’s now-a-days are rich South Koreans since “they believe that if they aim CEOs of rich companies and heads of organisations” then “they could take advantage of billions of won in virtual currencies.”

As per Luke McNamara, an analyst at cybersecurity firm named FireEye, “it’s doable from previous intrusions they’ve been able to collect information” regarding “people employing these cryptocurrency exchanges.”

McNamara explained that “when they perceive and grasp the targets” then “they are able to craft lures specific to those organisations or entities.” He additionally stated that this makes them “effective at what they’re doing.”

As reported by EtherDesk earlier also, Kaspersky Labs claims that North Korean hacker collective Lazarus Group used the “first” macOS malware to hack a crypto exchange. Specialists have conjointly argued that North Korea progressively uses cryptocurrencies to avoid U.S. sanctions.

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