Former FBI Intelligence Analyst Warns of North Korean Crypto Hackers

The first thing that needs to be cleared here is that there is no apparent hacking crisis for cryptocurrencies within North Korea. To better understand the whole picture, it is important to grasp what is actually going on.

North Korean state is actually sponsoring hackers to target cryptocurrencies and blockchain entities for the sake of undermining their security and trying to hack their way into their core functions. The state is well aware of what is going on, and as a matter of fact, it is sponsoring all these hacks itself. The situation is slowly getting out of hand.

The former FBI analyst and now part of the TRM labs group, Nick Carlsen, the crypto analyst, has said that things are going to get out of hand at first before these can be stated back to their normal state. This implies the fact that hacking activity taking place within North Korea targeting many cryptocurrencies and blockchain entities is actually sanctioned by the state; there is only little that can be done from the outside.

The point that Nick is trying to make is that you can’t change the way a state thinks or acts, but you can definitely increase the security profile of the blockchain entities that are being targeted.

Cyber theft has become real trouble and a nuisance for the US and South Korean governments, and they are trying their best to get ahead of the situation, but at the moment, nothing seems to be working. Cyber activity within North Korea is actually getting out of hand.

The US and South Korea should Work Together to Counter this Problem

The officials from the US side and South Korean side are actually communicating with each other on this security threat that has arisen on the horizon. A strategy is being struck between two governments to facilitate cooperation in combating the cyber-oriented crime that is getting way out of hand at the moment. A joint cyber working task force has been assembled to undermine the cyber security threat that is imminent and to neutralize it in the best fashion possible.

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