Categories: Techno

Powerful blow: how hackers from North Korea stole $300 million from the Japanese exchange DMM

A drama reminiscent of a spy thriller is once again unfolding in the world of cryptocurrency. North Korean hackers dealt a powerful blow to the Japanese exchange DMM, stealing more than $ 300 million in Bitcoin. What happened and how will it affect the market?

How it all began

In May 2024, one of the largest attacks on the cryptocurrency exchange DMM took place. Hackers from the TraderTraitor group, linked to North Korea, used cunning social engineering tactics to penetrate the system.

The role of social engineering

“It was a classic LinkedIn recruiter disguise scheme,” – The FBI says.

The hackers contacted an employee of Japanese cryptocurrency wallet management company Ginco and sent him a malicious link under the guise of a pre-test task. This gave them access to the company's internal systems.

Audacious attack

In mid-May, the attackers gained access to Ginco's communication systems, which allowed them to manipulate transactions in favor of DMM. As a result, 4,502.9 Bitcoins were stolen, which at that time were valued at $308 million.

Market implications

This incident became one of the largest cryptocurrency crimes of the year. In 2024, the number of attacks on centralized financial structures increased by 1000%, which indicates the need to strengthen cybersecurity in the industry.

What's next?

The FBI, together with Japanese partners and international organizations, continues to investigate the activities of TraderTraitor. This attack highlights the importance of raising awareness of social engineering tactics among employees of cryptocurrency companies.

Natasha Kumar

Natasha Kumar has been a reporter on the news desk since 2018. Before that she wrote about young adolescence and family dynamics for Styles and was the legal affairs correspondent for the Metro desk. Before joining The Times Hub, Natasha Kumar worked as a staff writer at the Village Voice and a freelancer for Newsday, The Wall Street Journal, GQ and Mirabella. To get in touch, contact me through my natasha@thetimeshub.in 1-800-268-7116

Share
Published by
Natasha Kumar

Recent Posts

The most intelligent zodiac signs. Nothing is impossible for them

Can intelligence depend on the date of birth ? < img src = "https://zycie.news/crrops/5116b5/620x0/1/0/2025/04/12/tmuqewaucdglw3r8hpiipkwcnfdtorjcb6bmf7kd.png" alt…

24 minutes ago

Bae Systems developers have introduced the latest high -precision APKWS rocket with self -esteem

< img src = "/uploads/blogs/39/4b/ib-1iojb1vgvgv_7b271523.jpg" Alt = "Bae Systems developers presented the latest high-precision APKWS…

24 minutes ago

How can you clean the TV screen so that there are no divorces: experts name the safe way

< IMG SRC = "/Uploads/Blogs/E9/A7/IB-FRMG6RQH6_6240DF4A.jpg" Alt = "How to Clear TV Screen to Left Divisions:…

24 minutes ago

The new feature from Microsoft is threatening privacy while keeping every user action in the database

< IMG SRC = "/Uploads/Blogs/0a/F4/IB-FRLTHMMM49_CEF7B271.jpg" Alt = "The new Microsoft function threatens privacy while keeping…

1 hour ago

Windows 11 operating system will finally get a feature that has long been in MacOS

< img src = "/uploads/blogs/54/8f/ib-ibtmtitit9_4ab4c67b.jpg" Alt = "Windows 11 < P > Microsoft will finally…

1 hour ago

In Spain near Sagrad, the families will create a selfie zone for € 2.7 million because of excessive tourism

< img src = "/uploads/blogs/d2/03/ib-freepmbcha_9316240d.jpg" Alt = "in Spain near Sagrad Famil's Famil's & quot;…

3 hours ago