AI threat detection and enhanced wallet management may save crypto firms from North Korean infiltrators, cybersecurity experts told Cointelegraph. Cryptocurrency companies need to strengthen defenses against North Korean hackers who are seeking jobs at major Web3 businesses to stage large-scale exploits, security experts told Cointelegraph. Hiring North Korean developers may open a crypto project’s infrastructure to the threat of hacks and data breaches similar to the Coinbase data breach in May, which exposed the wallet balances and physical locations of about 1% of the exchange’s monthly users, potentially costing the exchange up to $400 million in reimbursement expenses. To fight this growing threat, the industry needs to adopt enhanced wallet management standards, real-time AI monitoring for the early prevention of exploits and more secure employee vetting practices, crypto security experts told Cointelegraph. Read more
Learn how a North Korean group used 31 fake identities to infiltrate crypto firms and steal $680,000 from Favrr. Inside their tools, tactics and deception. In a twist worthy of a cyber‑thriller, a group posing as blockchain developers pulled off a $680,000 heist on fan token marketplace Favrr in June 2025, only to be unmasked when one of their own devices was counter‑hacked. What emerged was startling: Six North Korean operatives had at least 31 fake identities. They carried forged government IDs, phone numbers and fabricated LinkedIn and Upwork profiles. Some even posed as talent from Polygon Labs, OpenSea and Chainlink to infiltrate the crypto industry. Read more
Kraken says a North Korean actor applied for a tech job at the crypto exchange but foiled their plan after a tip-off from industry partners. US crypto exchange Kraken has detailed a North Korean hacker’s attempt to infiltrate the organization by applying for a job interview. “What started as a routine hiring process for an engineering role quickly turned into an intelligence-gathering operation,” the company wrote in a May 1 blog post. Kraken said the applicant’s red flags appeared early on in the process when they joined an interview under a name different from what they applied with and “occasionally switched between voices,” apparently being guided through the interview. Read more