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| North Korean pirates intensify bank robberies |
The US government warned on Wednesday that North Korean hackers are using banks around the world to make fraudulent transfers and withdraw money from ATMs.
A cybersecurity technology warning co-drafted by four different federal agencies says the North Korean regime's economically driven hacking activity has recovered after operations were halted earlier this year.
The warning reads: As of February 2020, North Korea has targeted banks in several countries / regions to initiate fraudulent activities related to international money transfers and ATM cash withdrawals.
US law enforcement authorities called the hacking activity "FAST Cash 2.0" and accused North Korea's intelligence agency.
Institutions such as the U.S. Treasury, the FBI, and the Agency for Cybersecurity and Infrastructure Security stated that the process has been going on since at least 2016, but the complexity and scope has increased recently.
In recent years, US authorities and private sector cybersecurity companies have accused North Korea of breaching numerous banks in Asia, South America and Africa.
According to the warning, a hacking team named BeagleBoyz is under the control of North Korean intelligence and stated that BeagleBoyz is part of HIDDEN COBRA's business.
BeagleBoyz's efforts include misuse of bank-managed SWIFT Points and cryptocurrency theft, resulting in millions of cryptocurrencies being stolen.
BeagleBoyz attempted to steal nearly $ 2 billion. According to the Cybersecurity and Infrastructure Security Agency, these thefts have created serious operational risks for individual companies in terms of reputation and financial loss.
Not only does BeagleBoyz steal traditional financial institutions, but it also targets cryptocurrency platforms to steal large amounts of cryptocurrency, sometimes hundreds of millions of dollars per incident.
In a prepared statement, Brian Ware, a senior cybersecurity official at the US Department of Homeland Security, said: North Korea's internet agents have demonstrated innovative talent and can change their strategies to exploit the industry financially through illegal networks. And every other section.
Cybersecurity experts and foreign policy analysts said that such hacking operations are being carried out to provide funds for the North Korean government, which is under severe financial pressure due to increased sanctions from the United States and other Western countries.
"The constant attacks show that the system is dependent on these resources and that it demonstrates its technical capabilities," said Vikram Thakur, chief technology officer at American cybersecurity company Symantec Corporation.