North Korea allegedly exploits cryptocurrency through falsified job postings - an additional method, as AI-generated job applications at American tech companies weren't deemed sufficient.
In a concerning turn of events, the tech industry has seen a surge of mass layoffs this year. Amidst this turmoil, another threat has emerged, this time from an unexpected quarter. North Korea has expanded its cyberattack tactics to include posting fake job offers in the cryptocurrency sector.
This scheme, as reported by Reuters, targets individuals on social platforms, instructing them to visit an obscure website. Once there, malicious code hosted on the site is used to compromise the applicant's crypto wallets. The goal of these fake job offers is to steal applicants' cryptocurrency assets.
The cryptocurrency industry has unfortunately become a common target for such job scams due to broader economic trends. Even the tech-savvy professionals in the cryptocurrency industry, such as developers and investors, have fallen prey to these manipulative job offers. Between January and March 2023, more than 230 email and IP addresses of individuals in various professions were targeted in North Korea's cryptocurrency scam attempts.
One of the most significant cyberattacks on record took place in 2022, when North Korean operatives stole $1.5 billion worth of Ethereum from the Bybit crypto exchange, according to TRM Labs.
As the tech industry grapples with layoffs and the shift towards return-to-office mandates, the response to these dodgy North Korean recruiters seems to be on the rise. Despite being told for years that well-paying dev jobs were abundant, computer science graduates are finding it harder than ever to find entry-level positions.
For those seeking employment in the tech industry, especially in the cryptocurrency sector, it is crucial to remain vigilant. The most important defense against recruitment scams is to be wary of offers that seem too good to be true.
For those interested in staying updated on the latest news and analysis in the tech and cryptocurrency sectors, resources such as Tom's Hardware and TechCrunch can be followed on Google News or added as preferred sources. TechCrunch, in particular, is maintaining a list of publicly announced layoffs.
As always, staying informed and being cautious are key to navigating the complexities of the modern job market and the ever-evolving threats in the digital world.
