Main navigation

North Korean Regime Exploits Crypto Mining Services for Cover

Tue, 03/28/2023 - 16:40
article image
Alex Dovbnya
Cybersecurity firm Mandiant has recently uncovered that North Korean cyber operator APT43 is exploiting cryptocurrency mining services to launder stolen funds and finance its espionage activities
North Korean Regime Exploits Crypto Mining Services for Cover
Cover image via
Read U.TODAY on
Google News

According to a recent report by cybersecurity firm Mandiant, North Korean cyber operator APT43 has been exploiting cryptocurrency mining services to launder stolen currency and fund its espionage operations.

The group, which primarily targets South Korean and U.S.-based government organizations, academics, and think tanks, has been involved in strategic intelligence collection and financially-motivated cybercrime.

APT43 has turned to cryptocurrency services as a means to sustain its operations, using hash rental and cloud mining services to convert stolen cryptocurrency into clean currency.

These services provide hash power to mine cryptocurrency without any blockchain-based association to the buyer's original payments. The group has used payment methods such as PayPal, American Express cards, and Bitcoin, likely derived from previous operations, for infrastructure and hardware purchases.

Shibarium Reaches All-Time High in Daily Transactions: Details
The group has also been involved in targeting Chinese users looking for cryptocurrency loans through a malicious Android app. This app, along with an associated domain, is suspected to harvest credentials. The prevalence of financially-motivated activities among North Korean groups like APT43 suggests a widespread mandate to self-fund and an expectation to sustain themselves without additional resourcing.

Mandiant assesses APT43 as a moderately-sophisticated cyber operator supporting the North Korean regime. The group has been tracked since 2018, with its collection priorities aligning with the mission of North Korea's Reconnaissance General Bureau (RGB).

article image
About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at