North Korean Hacker Made $365,000 From Stolen NFTs

Key Points:

• A wallet address linked to a suspected North Korean APT Group stole more than 1,000 NFTs from victims this year.
• Crypto firms have been targeted by cybercrime syndicates allegedly supported by Pyongyang.

According to a revelation by blockchain security company SlowMist, a wallet address linked to a suspected North Korean APT Group stole more than 1,000 NFTs from phishing victims and earned 300 ETH ($365,000) from their sale.

The term “APT” refers to cybercriminals who access internet networks and can operate covertly for extended periods of time in order to steal data. These organizations allegedly have North Korean government sponsorship, and several of them employ phishing among other attack vectors.

According to the SlowMist report, North Korean APT Groups have been in charge of a significant NFT phishing effort. Phishing is an attack strategy used by hackers to deceive users into disclosing sensitive information by impersonating trustworthy companies. Such attacks can be customized for the NFT market by hackers pretending to be well-known NFT projects or marketplaces in order to trick victims into signing destructive transactions that might result in the loss of priceless NFTs from their wallets.

One wallet address connected to the group that had stolen 1,055 NFTs was found by SlowMist. The items were bought for 300 ETH ($365,000).

The North Korean APT group targeted Crypto and NFT users with a phishing campaign using nearly 500 different domain names.

The report said

North Korean hackers’ coordinated phishing efforts against owners of NFT are a part of a wider pattern. Crypto exchanges and other cryptocurrency-related firms have been targeted by cybercrime syndicates allegedly supported by Pyongyang. These organizations have been implicated in a number of significant hacking of crypto trading platforms.

Coincu previously reported hackers from North Korea took 800 billion won ($625 million) this year alone. Over the aforementioned time frame, it was estimated that 100 billion (or $78 million) had been stolen from South Korean organizations.

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