US authorities offer $ 5 million for information on North Korean hackers

[Tomcat]

The US Department of State, the US Treasury, the US Department of Homeland Security and the Federal Bureau of Investigation have released a joint report warning the world of a "serious cyber threat" to banking and financial institutions posed by North Korean government hackers. The authorities are convinced that such attacks pose "a significant threat to the integrity and stability of the international financial system."

The document summarizes North Korea's recent cybercrimes and builds on last year's UN Security Council report detailing Pyongyang's tactics, which often uses hackers to bypass international sanctions and cybercrime as a way to raise funds. So, according to the UN, North Korean hackers resort to the following tactics:

• attacks on banks and other financial institutions and theft of funds;
• attacks on cryptocurrency exchanges and theft of funds;
• cryptojacking: hackers compromise servers around the world in order to mine cryptocurrency;
• extortion campaigns: compromise of a network of organizations and extortion of ransoms; hacking of sites to order for third-party clients, and the subsequent exploitation of purposes; forcing victims to pay for “consultations” that help prevent future attacks.

Many of these attacks targeted the financial sector, from where North Korean hackers stole more than $ 2 billion.

However, the US authorities not only once again warned about the danger of North Korean hackers. Also, under the Rewards for Justice program, the US authorities have offered a reward of up to $ 5,000,000 for any information that would help disrupt financial mechanisms and individuals "involved in certain activities that support North Korea." These activities include money laundering, sanctions evasion, cybercrime and the development of weapons of mass destruction.

Officials hope that the publication of the joint report will improve the security and awareness of companies, as well as help influence Pyongyang's hacker profits and, indirectly, the country's armaments program.

“It is vital for the international community, network defenders and the public to remain vigilant and work together to reduce the cyber threat posed by North Korea,” US officials say.