By Muhammad Sal
Changpeng Zhao, CEO of Binance, has warned of the strategies used by North Korean hackers to compromise cryptocurrency platforms. These cybercriminals employ cunning social engineering and technical methods to steal millions.
The Binance chief described these cyber attackers as highly skilled, patient, and inventive. Rather than relying solely on software vulnerabilities, they exploit human factors. For example, they frequently impersonate prospective employees by submitting applications for IT, security, and finance positions to gain unauthorized insider access.
In some cases, they act as recruiters conducting fake interviews, using technical glitches during video calls as a pretext to send malware disguised as software updates or sample code. Additionally, these operators sometimes appear as customers, using infected links in support requests to breach systems.
Zhao revealed that bribery also plays a role, with some hackers offering payments to employees or contractors to facilitate access. He cited a recent incident in which an Indian outsourcing company was compromised, enabling hackers to steal over $400 million from a U.S.-based exchange.
Amid growing regulatory pressures and investor concerns, Zhao urged crypto firms to implement rigorous hiring screenings and caution employees against downloading files from untrusted sources.
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