Mandiant: North Korean hackers launder cryptocurrency using cloud mining services

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According to a report by American cybersecurity company Mandiant, North Korean hacker group APT43 is using cloud mining services to launder stolen cryptocurrencies.

Mandiant, which is also a childby Google, said that APT43 "steals enough cryptocurrencies to buy operational infrastructure in accordance with the Juche ideology in North Korea." 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 known asKimuski uses cloud mining services to launder stolen cryptocurrencies. Cloud mining services allow users to rent a computer system owned by someone else and use that computer's power to mine cryptocurrencies. This saves miners from having to buy and install their own machines.

APT43 uses profits to finance itsoperations, the report says. Mandiant said it has been monitoring APT43 since 2018 and found it to be a "moderately sophisticated" hacker group working in support of the North Korean regime through "strategic intelligence gathering."

North Korean hackers have long been working incryptosphere - 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) submitted a report to the North Korea Sanctions Committee, according to which North Korean hackers stole more cryptoassets in 2022 than in any other year.