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North Korean Hacker Group Is Targeting Japanese Cryptocurrency Exchanges

According to an October 15 publication by the Japanese daily newspaper “Yomiuri Shimbun,” the North Korean group of hackers called “Lazarus” has continued to target Japanese cryptocurrency exchanges. The hacker group is also behind a cyber-attack on the central bank of Bangladesh in which hackers stole $81 million in 2016.

The attacks are confirmed by the National Police Agency, but due to a complete lack of forensic evidence, it is difficult for security firms to ascertain whether the Lazarus Group has carried out more hacking attacks. The authorities have also mentioned that now they are using new surveillance technologies like “public attribution” to counter the North Korean hacker group’s activities.

How did this cyber attack happen?

A senior official with the National Police Agency said that the hacker group Lazarus used phishing to target victims through emails. The hackers pretended to be executives of cryptocurrency companies when they sent phishing emails to employees of target companies and talked to those employees on social media in order to infect their computers with malware.

Sometimes hackers use the principle of vulnerability to break into vulnerable networks, and hackers get into companies’ internal networks and steal cryptocurrencies. After receiving complaints, local police departments around the country conducted investigations into the incidents that occurred at those companies. In April, the National Police Agency’s (NPA) created a special investigative unit on cyber-attacks, which is responsible for investigating cyber-attacks. 

Japanese authorities issued a warning about cyber risks.

On Friday, the National Police Agency (NPA), the Financial Services Agency (FSA), and the National Center of Incident Readiness and Strategy for Cybersecurity (NCIRS) teamed up to issue a warning, stating that it was highly likely that Japanese businesses had been targeted by Lazarus for a number of years, and that the warning was issued jointly by all three organizations. As a safety measure, the authorities strongly advise people not to open attachments in emails without being careful.

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Jeewan Singh is CryptoShrypto’s content writer and a seasoned writer with over two years of experience in writing about Indian Securities Market. Jeewan's participation in Blockchain and Cryptocurrency started in late 2020, and he hasn't looked back since. The technical and economic outcomes of cryptocurrency are what spark his curiosity, and he keeps one eye on the market.


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