N. Korean Entity Infiltrates 25 Crypto Projects with Developers

IconCryptoNewsTerminal Staff15 Aug, 2024

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N. Korean Entity Infiltrates 25 Crypto Projects with Developers

North Korean Entity Infiltrates Crypto Projects A blockchain security expert, ZachXBT, has uncovered an alleged infiltration by a North Korean entity into 25 different cryptocurrency projects. The entity reportedly planted 21 developers within these projects, generating monthly earnings between $300,000 and $500,000. ZachXBT's extensive investigation revealed connections between the group's funds and entities sanctioned by the US Department of the Treasury's Office of Foreign Assets Control (OFAC). The developers were introduced through recruiters, and upon facing scrutiny, they deleted their GitHub accounts and vanished. This incident highlights the ongoing threats to cybersecurity and the need for project leaders to conduct thorough background checks on potential developers. Cryptocurrency exchanges and regulators must also enhance their measures to counter such infiltrations and protect investors.

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