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Trump Comments on South Korea | Purge or Revolution?

Ahmet Bedirhan Arvas — Mon, 25 Aug 2025 14:30:25 +0000

US President Donald Trump, in his statements in Washington, expressed his satisfaction with the rise in the stock market while turning his attention to developments in South Korea. Trump said, “It is pleasing to see stocks going up. However, what is happening in South Korea is noteworthy. I don’t know if this is a liquidation or a revolution. If something like that happens, it would be impossible to do business there.”

Trump’s remarks about “liquidation or revolution” refer to structural transformations and political tensions in South Korea. However, according to analysts, there is no sudden revolution or destructive crisis; rather, economic reforms, diplomatic balancing efforts, and tensions originating from North Korea are coming to the forefront.

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Trade and Defense at the Forefront of the Summit

On August 25, at the summit held between the US and South Korea, the two countries decided to strengthen cooperation in trade and defense. South Korea pledged investments in strategic sectors such as semiconductors, shipbuilding, and battery production. As part of the shipbuilding plan announced by Trump under the slogan “Make America Shipbuilding Great Again (MASGA),” South Korea committed to an investment of $150 billion.

The South Korean National Assembly passed a significant law changing the governance structure of large corporations. The new regulation stipulates that audit committee members will be elected through separate votes and facilitates minority shareholders’ representation. This step aims to reduce the long-debated “Korea discount” issue in the South Korean stock market. However, the business community voiced objections, warning that the reforms could increase management conflicts.

China and North Korea Factor

Before the summit, the Seoul administration sent a message to Beijing calling for the “normalization” of economic relations. In this way, South Korea is trying to pursue a balanced foreign policy with both the US and China.
On the other hand, harsh statements from North Korea are increasing tensions in the region. Kim Yo Jong accused South Korea of being a “proxy of the US” while rejecting the possibility of dialogue between the two countries.

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G7 Summit to Address North Korea’s Crypto Thefts!

Yeliz Akmaca — Thu, 08 May 2025 09:45:09 +0000

North Korea is threatening global finance with crypto thefts. The G7 Summit, to be held in Alberta, Canada, in June 2025, is bringing this issue to the forefront. Leaders will discuss how Pyongyang’s cyberattacks, stealing cryptocurrencies, are funding its weapons programs.

Why Are North Korea’s Crypto Thefts Significant?

North Korea has been conducting cyberattacks on crypto exchanges for years. These attacks have now become one of the regime’s main sources of income. Since 2023, hackers have stolen billions of dollars in cryptocurrencies. These funds are supporting nuclear weapons and missile programs. G7 leaders will develop strategies to counter this threat.

Moreover, North Korea’s hacker groups are targeting vulnerabilities in blockchain technology. Teams like the Lazarus Group are hitting exchanges with sophisticated methods. These attacks are undermining the credibility of the crypto market. The summit will seek solutions to these issues.

What Topics Are on the Table at the G7 Summit?

The summit in Canada will take place in mid-June 2025. G7 leaders will closely examine North Korea’s cyber activities. Cybersecurity measures and international cooperation are among the key topics. Leaders may propose new regulations to enhance the security of crypto exchanges. According to blockchain analytics firm Chainalysis, North Korea-linked hackers carried out over $1.3 billion in hacks through 47 crypto heists in 2024. However, the summit will not focus solely on North Korea. The regulation of the global crypto market will also be discussed.

Solutions for Global Security and the Crypto Market

The G7 Summit could take concrete steps against North Korea’s crypto thefts. International cybersecurity agencies may strengthen their cooperation. The White House has officially claimed that North Korea uses these crypto thefts to fund destructive weapons. Additionally, crypto exchanges security protocols could be tightened. These measures will protect investors and bolster the market’s reputation.

The G7 Summit is addressing one of the crypto world’s biggest challenges. The summit will be a significant step toward resolving this issue.

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North Korean Hacker Tried to Infiltrate Kraken Exchange!

admin — Fri, 02 May 2025 17:30:27 +0000

According to the company’s blog post, a North Korea-linked hacker recently attempted to infiltrate Kraken’s internal systems by applying for a job. However, Kraken’s security and recruitment teams detected the attempt early and turned the process into an intelligence operation.

From Recruitment to Espionage Detection at Kraken

The incident began with a seemingly routine application for an engineering position. But the candidate’s behavior quickly raised red flags. In the first interview, the applicant joined under a different name than the one listed on their resume, then quickly changed it. Additionally, they occasionally used different voice tones, suggesting they were being coached in real time during the interview.

Kraken had already received warnings from industry partners that North Korean hacker groups were actively applying for jobs at crypto companies. When one of the email addresses used by the applicant matched a suspicious address from these warnings, Kraken’s Red Team (penetration testing unit) launched an investigation.

Using Open-Source Intelligence (OSINT) methods, Kraken’s team researched the applicant. They found that the email address had been leaked in a past data breach and was linked to multiple fake identities. Some of these identities had even been hired by other firms, and one of them belonged to a foreign agent listed under sanctions.

The candidate was also hiding their location using a VPN and accessing remote Mac desktops. The GitHub profile listed on their resume was tied to a previously exposed email. The identification document provided appeared to be fake and likely created using information stolen during a 2019 identity theft case.

The Hacker’s Downfall

Rather than cutting off contact, Kraken advanced the applicant through the hiring process — not to hire them, but to study their tactics. The candidate was subjected to several cybersecurity assessments and identity verification tasks. The final round? A “casual” interview with Kraken Chief Security Officer (CSO) Nick Percoco and other team members.

During this meeting, the applicant faced real-time verification questions: confirming their location, showing a government-issued ID, and even recommending some local restaurants in the city they claimed to live in. The hacker became visibly nervous and flustered, unable to answer the basic questions. It was now clear: this was not a legitimate job seeker, but a state-sponsored attacker attempting to infiltrate the company.

Kraken CSO Nick Percoco commented on the event:

Don’t trust, verify. That’s a core principle of the crypto world and even more critical in the digital age. State-sponsored attacks aren’t just an American issue — they’re a global threat. Any person or business managing value is a potential target.

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US Treasury Moves to Cut Off Huione Group Over Crypto Crime Ties

Yigit Taha OZTURK — Fri, 02 May 2025 10:30:42 +0000

The US Treasury Department has proposed barring Cambodia-based Huione Group from accessing the US banking system, accusing the firm of facilitating crypto-related money laundering for North Korea’s Lazarus Group.

In a rule proposal released on May 1, the Treasury’s Financial Crimes Enforcement Network (FinCEN) urged US banks to terminate correspondent and payable-through account services for Huione.

Deputy Treasury Secretary Scott Bessent described Huione as the “marketplace of choice for malicious cyber actors,” accusing it of aiding the theft of billions from ordinary Americans.

$4B Laundered, USDH Highlighted

According to FinCEN, Huione laundered over $4 billion in illicit funds between August 2021 and January 2025, including at least $36 million from crypto “pig butchering scams” and $37 million directly linked to North Korean cyberattacks.

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Its online service Haowang Guarantee has turned Huione into a one-stop crypto laundering hub, offering illegal goods and converting crypto to fiat currency.

FinCEN also flagged Huione’s stablecoin, the USDH (US dollar Huione), for its unfreezeable nature, which allegedly supports laundering operations.

Indirect US Bank Access and Regulatory Action

While Huione doesn’t hold direct accounts with US banks, FinCEN revealed it maintains accounts with foreign intermediaries that do, giving it indirect access to the US financial system.

The National Bank of Cambodia revoked Huione’s local banking license in March 2025, citing digital asset violations.

The proposed rule will undergo a 30-day public comment period before potentially being finalized.

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North Korean Hackers Target Crypto Devs!

Yigit Taha OZTURK — Fri, 25 Apr 2025 09:00:24 +0000

A subgroup of Lazarus, the North Korean state-linked hacker collective, has been exposed for setting up three fake crypto consulting firms to infect developers with malware. According to Silent Push, these shell companies—BlockNovas, Angeloper Agency, and SoftGlide—are part of a campaign to lure developers through fraudulent job interviews.

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Two of these companies are even legally registered in the U.S., adding a layer of legitimacy. During the interview, applicants receive a fake error message while trying to record a video, leading them to copy-paste a fix that actually installs malware.

Malware Targets Wallet Keys and Clipboard Data

The campaign utilizes three malware strains: BeaverTail, InvisibleFerret, and Otter Cookie. While BeaverTail is designed for initial compromise and further payload delivery, Otter Cookie and InvisibleFerret focus on extracting crypto wallet keys and clipboard contents.

Silent Push also discovered that hackers are using AI-generated images and stolen real photos to create fake employee profiles for the companies, boosting credibility. Analyst Zach Edwards noted that some images were subtly altered using AI tools to resemble the original person but appear unique.

The campaign has been active since 2024, and at least two developers were directly affected—one of whom had their MetaMask wallet compromised. The FBI has since shut down BlockNovas, but SoftGlide and other parts of the operation remain online.

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Bitcoin Dominance Breaks Key Level: Altcoins Under Pressure?

Yigit Taha OZTURK — Thu, 17 Apr 2025 17:00:35 +0000

Bitcoin dominance has pushed past the crucial %62.26 resistance level after bouncing from the previously highlighted bullish FVG zone. It’s now approaching %64.30, maintaining strong upward momentum.

Short-Term Scenarios and Targets

If dominance gets rejected here, we may see a pullback first toward %63.00, then down to the %62.26 support. But if bullish volume continues and the resistance breaks cleanly:

Next target zone: %65.91 – %66.46

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Such a move would likely extend Bitcoin’s dominance over altcoins, delaying any potential altcoin season.

BTC.D pair daily chart.

Why It Matters

This uptrend signals possible continued risk aversion, with capital concentrating in Bitcoin.
Altcoins may remain range-bound or trend downward during this phase of dominance rise.

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North Korean Hackers Target Crypto Devs with Fake Job Offers

Yigit Taha OZTURK — Thu, 17 Apr 2025 15:00:40 +0000

North Korean hacking groups are luring crypto developers with fake job offers and coding tests laced with malware, according to cybersecurity experts.

Malware Hidden in “Coding Assignments”

Hackers from the group Slow Pisces (aka Jade Sleet / TraderTraitor) approach developers on LinkedIn, offering dream gigs in DeFi or blockchain security. Once trust is built, they send malware-infected coding challenges hosted on GitHub. When opened, these files steal SSH keys, cloud access credentials, and crypto wallet data.

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Using Freelance Platforms to Spread

According to Hacken and Cyvers, platforms like Upwork and Fiverr are also being used by attackers posing as hiring managers.

“They create credible profiles and fake resumes just to infiltrate Web3 firms via targeted developers,” says Hayato Shigekawa of Chainalysis.

Security Tips for Devs

Always use virtual machines or sandboxes to test external code
Verify job offers via official channels
Never store secrets in plain text
Be wary of unverified packages and unsolicited opportunities
Implement endpoint protection and operational hygiene

“If it looks too good to be true, it probably is,” warns Luis Lubeck of Hacken.

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Bybit Recovers 7% Market Share After $1.4B Hack

Yigit Taha OZTURK — Thu, 10 Apr 2025 13:30:30 +0000

Bybit’s market share has bounced back to over 7%, returning to pre-hack levels, despite a broader trend of macro “de-risking” among cryptocurrency investors.

The crypto industry was shaken on February 21 by the largest hack in history, as Bybit lost more than $1.4 billion in liquid-staked Ether (stETH), Mantle Staked ETH (mETH), and other digital assets.

According to a report by crypto analytics firm Block Scholes on April 9, Bybit has steadily recovered its share in the market:

“Since this initial decline, Bybit has steadily regained market share as it works to repair sentiment and as volumes return to the exchange,” the report noted.

Bybit’s proportional market share climbed from a post-hack low of 4% to approximately 7%, signaling a strong and stable recovery in both spot trading volume and market activity.

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The report also emphasizes that the decline in volume was not solely due to the hack but was part of a larger macroeconomic de-risking trend that began even earlier.

$1.4 Billion Laundered Through THORChain

The Bybit hackers took 10 days to launder the stolen funds through the decentralized cross-chain protocol THORChain, as reported.

Despite these efforts, 89% of the hacked amount remains traceable via blockchain analytics.

North Korea’s Lazarus Group Suspected

Blockchain security firms such as Arkham Intelligence have linked the attack to North Korea’s Lazarus Group, citing ongoing fund movement patterns designed to obscure origins.

According to Chainalysis, North Korean cyber activity declined sharply after July 1, 2024, even though the first half of the year saw a surge in such exploits.

Eric Jardine, Chainalysis’ Cybercrime Research Lead, commented:

“The slowdown began after the Russia–North Korea summit, which likely shifted DPRK resources toward military involvement in Ukraine. We speculated in our report that this could also include cyber resources. Fast forward to early February—and you have the Bybit hack.”

Industry Analysts Raise Alarm on Exchange Vulnerabilities

The Bybit breach highlights the ongoing vulnerability of centralized exchanges, even those with high security standards.

Meir Dolev, CTO of Cyvers, compared the exploit to other recent attacks such as the $230 million WazirX hack and the $58 million Radiant Capital hack, underlining recurring attack vectors.

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South Korea Sanctions 15 North Koreans for Theft

Emre Yumlu — Thu, 26 Dec 2024 17:00:06 +0000

South Korea Sanctions 15 North Koreans for Crypto Theft and Cyber Crimes. South Korea has imposed sanctions on 15 North Koreans due to crypto theft and cybercrime offenses.

The sanctioned agents are alleged to have generated funds for North Korea’s nuclear weapons development program.

North Korean hackers are among the most sought-after individuals by governments worldwide, being linked to more than half of the cryptocurrency value stolen in 2024.

Notorious hackers like the Lazarus Group are prime suspects in some of the most infamous cyber thefts in Web3, including the $600 million Ronin network hack.

South Korea has become the latest country to impose sanctions against 15 members of North Korean IT organizations and one associated entity.

Nuclear Program Connection

According to a December 26 press release from South Korea’s Ministry of Foreign Affairs, the sanctioned agents are accused of procuring funds for North Korea’s nuclear missile development program and the DPRK’s Munitions Industry Department through “overseas foreign currency-earning activities.”

Kim Cheol-min from the 313th General Bureau is among those sanctioned, with allegations that he earned “a large amount of foreign currency” by working undercover for U.S. and Canadian companies before funneling the funds to Pyongyang’s nuclear weapons program.

Another sanctioned individual, Kim Ryu Song, was indicted by U.S. lawmakers on December 11 for violating sanctions, money laundering, and identity theft, reportedly generating more than $88 million in revenue over six years, according to South Korean media reports.

Total Annual Funds Loss

The sanctions came after another big year for crypto hackers, who stole $2.3 billion worth of crypto in 2024, a 40% increase over the value stolen in 2023.

North Korean Hackers Stole $1.3 Billion Worth of Crypto in 2024: Chainalysis

North Korean-affiliated hackers have become a major threat to the security of the crypto world.

According to Chainalysis data, in 2024, North Korean hackers stole $1.34 billion worth of digital assets across 47 different incidents, marking a 102% increase compared to the $660 million stolen in 2023.

DPRK (North Korea) Hacking Activities

$1.34 billion represents more than 61% of the total cryptocurrency value stolen during 2024 and more than 20% of the total hacking incidents. According to Chainalysis, a worrying sign for 2025 is that the frequency of attacks by North Korean agents is increasing.

“Notably, attacks between $50 million and $100 million, and those above $100 million, occurred far more frequently in 2024 than in 2023, suggesting that the DPRK is getting better and faster at executing large-scale exploits.”

In contrast, most North Korean hacks only netted attackers an average of $50 million worth of stolen funds, indicating that the scale of the attacks is growing.

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North Korea Confirms $42 Million Ethereum Theft from Upbit Exchange

Yigit Taha OZTURK — Thu, 21 Nov 2024 10:30:24 +0000

The South Korean government has officially confirmed that North Korea stole $42 million worth of Ethereum from the Upbit exchange. The stolen amount is reportedly part of North Korea’s illegal cybercrime strategy to fund its activities. South Korean authorities announced that stricter cybersecurity and regulatory measures will be implemented in response to the breach.

Impact on the Crypto Market

Erosion of Trust in Centralized Exchanges: This incident could increase concerns about the security of centralized exchanges, leading users to shift towards decentralized finance (DeFi) platforms.
Increased Regulation: Governments may feel a growing need to impose stricter regulations on the cryptocurrency market to prevent similar breaches.
Ethereum Volatility: The theft of a large amount of Ethereum may trigger short-term price fluctuations in the market.
North Korea’s Cyberattacks: This highlights the need for more advanced security protocols in the crypto industry to protect against sophisticated cyberattacks.

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