How an Elaborate North Korean Crypto Heist Fell Apart
5 years ago

How an Elaborate North Korean Crypto Heist Fell Apart

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At the end of 2018, North Korea carried out a heist. The scheme used North Korean infrastructure to purchase 8,823 Apple iTunes gift cards for $1,448,694, created false identities, and built a sophisticated network of transactions. The crypto exchange hack is one of four that have been blamed on North Korean actors, most recently by the United Nations. According to court documents they researched “hacking,” “Gmail hacker extension,” “how to conduct phishing campaigns,” and, perhaps crucially, “how to exchange large amounts of ETH to BTC.” The documents state that “North Korean co-conspirators” who are believed to have been involved in the hacking of the crypto exchange also researched the relationship between the US and North Korean military, and Kim Jong Un. “To obfuscate the BTC trail and decrease scrutiny, the North Korean co-conspirators engaged in hundreds of automated transactions with new BTC addresses as “peel chains” to four different exchanges,” the US government says.

History of this topic

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