Former FBI intelligence expert predicts worsening in North Korean crypto hacking


A cybersecurity expert warns that crypto attacks in North Korea are escalating as state-sponsored hackers continue to target blockchain enterprises.

During a panel session on cyber-enabled crimes hosted by the Center for a New American Security (CNAS) on August 9, 2022, Nick Carlsen, a blockchain analyst at TRM Labs and a former FBI analyst, warned that cybertheft “is just going to get worse.”

Carlsen said that the dangerous environment is at its apex regarding financial fraud and that: The theft “will continue to worsen. “Cryptocurrency will become an increasingly accepted method of real payment settlement.”

Specifically, the meeting between the United States and South Korea was part of a plan to enhance cooperation on countering cyber-enabled financial crime, with an emphasis on cryptocurrencies and blockchain technology, as well as the increase in cyber activity in North Korea.

The United States and South Korea will increase their cyber-working group

The United States and South Korea agreed to enhance their cooperation in 2021 by establishing a cyber-working group focusing on cybercrime and developing solutions to battle ransomware.

So Jeong Kim, a senior researcher at the Institute of National Security of South Korea, claimed that the encouragement of information exchange on North Korean cyber activities with the South Korean government would result from the group’s efforts.

The United States and South Korea reconvened in May 2022 at the US-ROK Summit between US president Joe Biden and ROK president Yoon Suk-yeol to resurrect the joint cyber-working group that had been previously conceived.

Since then, however, there have been no noteworthy advancements in US-ROK cyber-working groups, with both Washington and Seoul remaining mute.

Also Read: Iran Trades Goods Worth $10 Million Using Cryptocurrency

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