A new report commissioned by the U.S. Secret Service reveals what happened behind the attacks launched by North Korean hackers on South Korean cryptocurrency exchanges. The case is about a violation on June 29, 2017, which exposed data related to Bithumb’s more than 30,000 customers.

Hackers are threatened to “destroy” data and steal cryptocurrency

According to Maeil Kyungjae, US authorities that North Korean hackers could obtain personal data and funds from customers, and then demanded a ransom. The blackmailers asked the cryptocurrency exchange Bithumb to provide 20 billion won (US$16 million) in funding.

In addition, threat actors have also been of sending malicious code to Bithumb employees through fake work applications. According to reports, this was done during the company’s recruitment season that year.

The Federal Bureau of Investigation (FBI) cooperated with South Korean authorities to investigate the case with reporters. In terms of the ransom note, hackers threatened Bithumb to “sell or destroy customers’ virtual currencies unless they provide a certain amount.”

Although the US security report did not specify the name of the cybercriminal, the Lazarus Group is likely to be the planner of the attack.

In fact, the local media associated them with major cyberattacks in the past, and their authorship is attributed to the indictment filed by the U.S. Department of Justice (DOJ) involving hackers “belonging to the North Korean Reconnaissance Bureau,” more specifically Lazarus. group.

Lazarus Group is responsible for major cyber robberies around the world, cracking down on global crypto transactions

Recently, as Bitcoin.com News reported in February 2021, the US Department of Justice announced new allegations against hackers funded by the North Korean government.

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It is alleged that in the past few years, hackers have stolen more than $1.3 billion in cryptocurrency and statutes in coordinated cyber robberies.

The law enforcement agency revealed a case related to an unnamed Slovenian encryption company. According to court documents, hackers participated in the $75 million stolen from the company in December 2017.

They were also involved in another $24.9 million theft in an encrypted business in September 2018, but this time in Indonesia.

What is your opinion on the 2017 report on Bithumb data breach by the US authorities? Let us know in the comments section below.

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