June 19, 2024

Mandiant: North Korean hackers launder cryptocurrency using cloud mining services

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Mandiant: North Korean hackers launder cryptocurrency using cloud mining services

According to a report from the Americancybersecurity company Mandiant, North Korean hacker group APT43 is using cloud mining services to launder stolen cryptocurrency.

Mandiant, which is also a subsidiaryGoogle, said APT43 is "stealing enough cryptocurrency to buy operational infrastructure under North Korea's Juche ideology." Juche is the state ideology of North Korea and the official ideology of the Workers' Party of Korea, developed by founder Kim Il Sung.

Mandiant stated that APT43, also knownlike Kimuski, uses cloud mining services to launder stolen cryptocurrency. Cloud mining services allow users to rent a computer system owned by someone else and use that computer's power to mine cryptocurrencies. This eliminates the need for miners to purchase and install their own machines.

APT43 uses profits for fundingof its operations, the report said. Mandiant said it has been monitoring APT43 since 2018 and found that it is a "moderately sophisticated" group of hackers working to support the North Korean regime by "gathering strategic intelligence."

North Korean hackers have been working for a long timecryptosphere - they hack protocols and steal digital assets. They have stolen at least $1.2 billion over the past five years. In February, the United Nations (UN) presented a report to the North Korea Sanctions Committee that found North Korean hackers stole more crypto assets in 2022 than in any other year.