Speaking at theTNW Conference 2022, author and investigative journalist Geoff White addressed this perplexing contradiction.
The fact that most governments employ computer hackers isnt news.
They employ them to obtain advantageous information that they can use to advance their countrys position.
As per White, North Korean hackers do something slightly different.
They go after cash as well.
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It needs to find alternative monetary resources.
Researchers call these hackers the Lazarus Group.
But hacking is just the start of it.
Ive got to launder the money and Ive got to get access to it.
Computer hackers arent necessarily the best at all of that other stuff.
But Ill tell you who is… organized criminals.
And so North Koreas hackers have started working with organized crime, which can provide the necessary networks.
), and they sent those details to their accomplices around the world.
Then, they had their accomplices create fake cloned ATM cards for those accounts.
That way, they made $11 million, withdrawn in 29 countries within two hours and 13 minutes.
The question here is who coordinated the attack, White noted.
Based on investigators findings, itsPark Yin Hyok.
According to the US Department of Justice, hes a member of the elite North Korean hacking unit.
But how could he coordinate the attack in 29 different countries from Pyongyang, North Koreas capital city?
For that he needs accomplices and whats the best place to look?
The dark web, of course.
There he found someone calling himself Big Boss, who turned out to have the necessary skill set.
Once again, they found their way into the bank through phishing emails.
But this time the hackers didnt do any ATM withdrawals.
Now the problem with SWIFT is that you need a bank account to put the money into.
But which account were they going to use?
Kim Jong-un courtesy of Pyongyang central bank?
I dont think so.
They needed accounts that they could put the money in, and then launder it through.
Luckily for the hackers, Big Boss had the perfect man for the job: HushPuppi.
He had bank accounts around the world that can be used for money laundering.
This time they stole $13 million.
While both are sentenced to prison, Park Yin Hyok is yet to face justice.
Story byIoanna Lykiardopoulou
Ioanna is a writer at TNW.
With a background in the humanities, she has a soft spot for social impact-enabling technologies.
