A report from the firm Recorded Future finds that billions in gains from cryptocurrency heists fund close to half of North Korea’s military budget.
The hack of Beanstalk is just the latest major compromise of a decentralized finance (DeFi) platform. In this podcast, Jennifer Fernick of NCC Group joins me to talk about why DeFi’s security woes are much bigger than Beanstalk.
A small group of cybercriminals are responsible for the most damaging cyberattacks–often with the help of state sponsorship. Still, low-level criminal activity on the dark web still poses the most widespread and immediate security threat, with cryptocurrency mining, ransomware and malware all on the rise, a recent report has found.
North Korean state-sponsored hacking group Lazarus is believed to be behind a recent crypto jacking attack on several banks with an unexpected twist–the use of a Trojan that tricked a company employee into downloading malware, according to Kaspersky Lab.
Because of its potential to earn hackers millions in a steady stream of cash, Kaspersky Labs has deemed crypto-jacking the new ransomware in a report that arrived just as researchers spotted two new types of malware targeting the growing popularity of cryptocurrencies.