In a most curious turn of events, Coinbase, that illustrious titan of cryptocurrency exchanges, finds itself besieged by a rather audacious cadre of North Korean hackers, all clamoring for remote employment. One might wonder if they’ve mistaken the company for a particularly generous employment agency.
These enterprising IT workers from the Democratic People’s Republic of Korea have evidently taken a keen interest in Coinbase’s remote worker policy, presumably believing that access to sensitive systems is the modern equivalent of a golden ticket to Willy Wonka’s factory. 🍫
In light of this rather alarming development, CEO Brian Armstrong has decided to rethink the exchange’s internal security measures. It seems that in-person training in the United States will now be a prerequisite for all employees, while those with access to sensitive systems will be required to possess US citizenship and submit to the indignity of fingerprinting. One can only imagine the delightful conversations at the water cooler.
“DPRK is very interested in stealing crypto,” Armstrong quipped during a recent episode of the Cheeky Pint podcast, hosted by the ever-enthusiastic John Collins. “We can collaborate with law enforcement […] but it feels like there’s 500 new people graduating every quarter, from some kind of school they have, and that’s their whole job.” One can only hope they offer a degree in ‘Advanced Cyber Shenanigans’.
Armstrong further elaborated on the plight of these operatives, noting that many are coerced into their roles. “In many of these cases, it’s not the individual person’s fault. Their family is being coerced or detained if they don’t cooperate,” he lamented. A rather grim situation, indeed, but one that does lend a certain tragic air to the whole affair.
Armstrong’s remarks come amidst a veritable tsunami of North Korean cyber activity, which, one might say, is becoming as predictable as the British weather. In June, four operatives managed to infiltrate multiple crypto firms as freelance developers, pilfering a staggering $900,000 from these unsuspecting startups. CryptoMoon reported this with the kind of glee usually reserved for a particularly juicy gossip column.
Coinbase Data Leak: A Recipe for Disaster
These new security measures come on the heels of a rather unfortunate data breach, which Coinbase confirmed had affected less than 1% of its transacting monthly users. However, the potential cost of this breach could reach a staggering $400 million in reimbursement expenses, as reported by CryptoMoon on May 15. But fear not, dear users, for the “human cost” may be even more alarming, as highlighted by Michael Arrington, the founder of TechCrunch. He pointed out that the breach included home addresses and account balances, leading to the rather unsettling possibility of physical attacks. How charming!
In a delightful twist of fate, Coinbase has also been revealed as the most impersonated brand among US crypto firms in phishing attacks throughout 2024, appearing in a staggering 416 reported scams over the past four years, according to a Mailsuite report shared with CryptoMoon. One can only imagine the creativity of these scammers, who must surely be the Picassos of the phishing world.
For context, Facebook’s parent company, Meta, has taken the crown as the most impersonated brand overall, with a jaw-dropping 10,457 reported scam incidents in the past four years. The US Internal Revenue Service follows closely behind, having been impersonated in at least 9,762 scams. Truly, a competition for the ages!
Read More
- You Won’t Believe Polygon’s Wild Stablecoin Frenzy—But POL Has Other Plans
- USD KZT PREDICTION
- APT PREDICTION. APT cryptocurrency
- XMR PREDICTION. XMR cryptocurrency
- CRV PREDICTION. CRV cryptocurrency
- EUR BRL PREDICTION
- TRUMP PREDICTION. TRUMP cryptocurrency
- TRX PREDICTION. TRX cryptocurrency
- XLM PREDICTION. XLM cryptocurrency
- NEXO PREDICTION. NEXO cryptocurrency
2025-08-22 17:21