North Korean Hackers Pose Major Threat to Crypto Industry
Jimmy Su, Binance’s security chief, didn’t mince words when talking about the biggest danger to cryptocurrency right now. It’s not market crashes or regulatory crackdowns—it’s North Korean hackers. And they’re getting creative.
According to Su, these attackers bombard Binance with fake job applications daily, using everything from voice-altering tech to deepfakes during interviews. Sometimes they slip poisoned code into open-source platforms like NPM. Other times, they pose as recruiters dangling high salaries to lure insiders.
“State-backed hackers, especially North Korea and the Lazarus Group, are the main problem,” Su said. “They’ve zeroed in on crypto over the past few years, and frankly, they’ve been good at it.” He pointed out that in most major hacks tied to North Korea, there’s usually a compromised employee involved somewhere.
The Lazarus Group’s Growing Reach
The Lazarus Group isn’t some minor nuisance. The FBI blames them for the massive March attack on Bybit, which siphoned off $1.4 billion—the biggest crypto heist ever recorded. These hackers aren’t just skilled; they’re persistent.
Binance sees a flood of suspicious resumes every day, many following eerily similar templates. Su admits some slip through initial screenings. When that happens, video interviews don’t always help. With voice changers and deepfakes, it’s getting harder to tell who’s real.
But it’s not just about fake job seekers. The group’s tactics include infiltrating developer communities, tampering with code libraries, and even impersonating company executives. Their goal? To steal funds or plant backdoors for future attacks.
Why Crypto? And What’s Next?
Crypto’s appeal to hackers isn’t hard to figure out. Transactions are often irreversible, and anonymity is baked into the system. For a regime under heavy sanctions, like North Korea, stolen digital assets can be a lifeline.
Su didn’t offer a silver bullet solution, but he stressed vigilance. Companies need tighter hiring checks, better code audits, and maybe a healthy dose of skepticism when a “dream candidate” pops up out of nowhere.
The takeaway? This isn’t just Binance’s problem. If North Korea keeps succeeding, the entire industry—exchanges, developers, even casual traders—could end up paying the price.
*This is not investment advice.
