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Former FBI analyst warns cyber cases in North Korea might “going to get worse more”

During a panel discussion hosted by CNAS on August 9, Nick Carlsen, a blockchain analyst at TRM Labs and ex-FBI analyst cautioned that online theft is “going to get worse more” in North Korea.

Moreover, Carlsen stated that “Theft is going to get worse. Cryptocurrency is going to become much more of an accepted means of actual payment settlement.”

In the conversation between South Korea and the US, the main area of discussion was on improving the cooperation between the two countries on fighting online-enabled monetary wrongdoing, with emphasis on blockchain technology, cryptocurrency and the rise of online activity in North Korea.

In 2021, South Korea and the US came together to strengthen their partnership by forming an online-working group with a focus on cybercrime and forming methods for fighting ransomware.

So, Jeong Kim, a senior specialist at the Institute said, one essential result of the joint work would be the sharing of data with the South Korean government from the North Korean cyber activity.

Both US president Joe Biden and ROK president Yoon Suk-yeol came together at the US-ROK summit in May 2022 to reform the earlier planned joint cyber-group.

During the US-ROK summit, Carlsen expressed that, “the present situation of cybersecurity demands groups tasks for recovering lost assets straightforwardly from the hackers of North Korea, as they are used to be in the position of stealing but not at the position get hacked, so a direct approach is the best technique.”

Moreover, as the crypto crime in North Korea increased, North Korea became the leader in crypto crime worldwide, netting over $1.5 billion.

Read more at CryptoShrypto:
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