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Kraken Outsmarted North Korean Hackers, Here’s How!

BBG News

Ah, the thrilling world of crypto. It’s like a game of chess, but with more hackers, more paranoia, and, of course, more money to be stolen. The latest security disclosure from Kraken reads more like a scene from a spy novel than a corporate blog. On May 1, 2025, Kraken released a detailed account titled “How we identified a North Korean hacker who tried to get a job at Kraken.” Yes, you read that correctly – someone tried to land a job at Kraken to gather intelligence. What could go wrong, right?

It all began innocently enough with a job application. But soon, the hiring process transformed into a game of cat and mouse. The first clue that something was off? The applicant joined under a different name than the one on their résumé. They quickly changed it, almost like someone had forgotten to set the alias for their spy mission. A subtle red flag, or maybe a neon sign? It’s hard to tell sometimes.

Kraken Tricks North Korean Crypto Hacker

The plot thickens. Kraken’s security team wasn’t relying on gut feelings alone. Oh no. They already had a list of email addresses tied to a notorious hacker group. And guess what? One of those emails matched the résumé. Talk about a lucky break! Kraken’s Red Team dove into some good old-fashioned OSINT (open-source intelligence, for those not in the know) and uncovered a massive network of fake identities. Turns out, this wasn’t the only company dealing with fabricated résumés – other crypto firms had unwittingly hired personas from the same batch. Oh, and one of those identities? A known foreign agent on the sanctions list. Small world, right?

But wait, there’s more! The technical inconsistencies were piling up faster than a stack of unpaid student loans. The applicant was using “remote colocated Mac desktops” (fancy tech speak for “I’m trying to hide where I am”) and communicating through a VPN. Sure, it’s common, but only if you’re up to no good. A GitHub profile connected to the résumé also had an email from a past data breach. Oh, and the primary government ID? It looked suspiciously altered, probably using info from a stolen identity. Nice try, buddy.

Now, here’s where Kraken went full mastermind mode. Instead of rejecting the applicant outright, they led them through the recruitment process like a spider luring in a fly. Each step was carefully designed to learn more about the hacker’s tactics. The candidate had no idea. They were just another hopeful job seeker, blissfully unaware that every answer was being scrutinized. Can’t blame them for falling for the trap, though. Who doesn’t want to work for Kraken?

The big reveal came during what was supposed to be an informal “chemistry interview” with Nick Percoco, Kraken’s Chief Security Officer. This, dear reader, was the moment the hacker’s facade crumbled. Percoco asked for live two-factor confirmations and some simple questions: show your government ID on camera, where are you located, and what’s the name of a few local restaurants? The applicant was flustered, caught off guard, and unable to provide convincing answers. It was like watching a deer caught in the headlights, except with way more international intrigue.

So what’s the takeaway here? Percoco summed it up nicely: “Don’t trust, verify.” This crypto principle is more relevant than ever, and it’s not just an issue for the US or crypto firms. State-sponsored cyberattacks are a global threat. Any business or individual handling value is a potential target. Prepare accordingly. Who knew the world of digital finance could get so… dramatic?

Kraken made sure to remind everyone that this North Korean hacker was part of a much larger campaign that siphoned more than $650 million from crypto firms in 2024. The lesson here is clear: sometimes the biggest threats come disguised as opportunities. So, next time you’re thinking of hiring someone, maybe double-check that government ID, just in case.

As of press time, BTC is trading at a cool $96,825. Who says cyberattacks can’t be profitable?

Featured image created with DALL.E, chart from TradingView.com

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2025-05-03 07:13

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