A North Korean hacking group, known as Labyrinth Chollima, breached a US-based American IT management company and used it as a platform to target cryptocurrency companies, as reported by Reuters. The group, believed to have government support, infiltrated enterprise software company JumpCloud in late June and subsequently targeted its cryptocurrency clients in an attempt to steal digital currency. JumpCloud acknowledged the hack and attributed it to a “sophisticated nation-state sponsored threat actor,” without disclosing the affected clients. Cybersecurity firm CrowdStrike Holdings is partnering with JumpCloud to investigate the breach and has confirmed the involvement of North Korean hackers. It was stated that these hackers have a history of targeting cryptocurrency companies with the objective of generating revenue for the regime. Cybersecurity researcher Tom Hegel further emphasized the increasing proficiency of North Korea in hacking software or service providers to obtain valuable data or money from users. According to Chainalysis, North Korea-linked hacking groups, including Labyrinth Chollima, have stolen an estimated $1.7 billion worth of cryptocurrency through various hacks.
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