North Korean Hackers Hit US Tech Brand in Crypto Scam Spree

Recently, North Korean hackers (a government-backed hacking group) executed a brazen cyberattack on an American IT management company, using it as a stepping stone to target cryptocurrency firms. The incident underscores the increasing sophistication of North Korean cyber espionage and its focus on cryptocurrency theft. In this article, we delve into the details of the attack and shed light on the rise of “supply chain attacks.”

North Korean Hackers Infiltrate JumpCloud

Louisville, Colorado-based IT management company, JumpCloud, fell victim to a hacking operation orchestrated by North Korean cyber spies in late June. The hackers gained unauthorized access to JumpCloud’s systems, exploiting the opportunity to target a select group of its clients. While JumpCloud refrained from revealing the identities of the affected customers, leading cybersecurity firms, CrowdStrike Holdings, and Mandiant, corroborated that these clients were cryptocurrency companies.

Targeting Cryptocurrency Companies

The motivation behind the attack became apparent as it unfolded. North Korean hackers were no longer content with isolated hacks on digital currency firms; instead, they sought to breach companies that could serve as gateways to multiple downstream victims. This strategic approach is known as a “supply chain attack,” allowing them to maximize their reach and impact.

Rising Cyber Threat from North Korea

The incident highlighted the evolving tactics of North Korean cyber espionage. Tom Hegel of SentinelOne stated that North Korea has stepped up its game, emphasizing the seriousness of the threat. CrowdStrike identified the hackers responsible as “Labyrinth Chollima,” one of several groups linked to North Korea’s cyber activities. Mandiant further confirmed that the hackers were associated with North Korea’s Reconnaissance General Bureau (RGB), its primary foreign intelligence agency.

Cryptocurrency Heists and Denials

North Korea has faced accusations of orchestrating digital currency heists in the past. However, the country’s mission to the United Nations in New York has consistently denied any involvement in such activities, despite mounting evidence from sources like U.N. reports.

The Ongoing Impact

The hack on JumpCloud, a company specializing in network device and server management, raised concerns within the cybersecurity community. While JumpCloud promptly informed its customers about the breach, the attack’s repercussions extend beyond the immediate incident. The rise of supply chain attacks underscores the need for heightened vigilance and security measures across industries.


The North Korean hacking group’s brazen attack on JumpCloud. Also, subsequent targeting of cryptocurrency companies serve as a stark reminder of the escalating cyber threat landscape. The incident highlights the importance of proactive cybersecurity measures and industry collaboration to safeguard against supply chain attacks. As the world witnesses the relentless advancement of cyber espionage tactics, defending against such threats becomes an ever-pressing priority.

By Ryan

Ryan is an author at CryptoPresales, With his expertise in the crypto industry, Ryan shares his insights on various aspects of the blockchain ecosystem, including token sales, decentralized finance, and emerging trends.