Kim Jong Un May Be Using Stolen Crypto to Offset Economic Fallout

North Korean leader, Kim Jong-un, is reportedly backing a group of hackers. Their goal? Stealing cryptocurrencies like Bitcoin (BTC) using phishing scams. Sources indicate that the country has ramped up these efforts in an attempt to prevent a financial meltdown amid the COVID-19 crisis.

A report published on May 13 by the U.K. Mirror claims that the Lazarus group, a hacking syndicate with alleged ties to the North Korean state, could be launching a cybercrime campaign of advanced persistent threat, or APT, attacks.

Experts from Seoul-based firm, ESTsecurity, state that Lazarus is “increasingly engaging” in cybercrime activities in and out of South Korea. Still, they have also received reports that some attacks are being made internationally in countries like the United States.

Lazarus group represents a “serious threat”

The attacks are mainly aimed at people trading crypto, as the group sends malicious files that impersonate blockchain software development contracts.

Speaking…