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2 months ago
How has North Korea allegedly used cybercrime (crypto theft, ransomware) to fund its regime?
North Korea has allegedly leveraged cybercrime, particularly cryptocurrency theft and ransomware, as a crucial and increasingly preferred method to fund its regime and, specifically, its illicit weapons programs.
This strategy is a direct response to the crippling international sanctions imposed on the country.
Here's how they've allegedly done it:
1. Circumventing Sanctions for Hard Currency:
Financial Isolation: North Korea faces severe international sanctions that cut off its access to traditional global financial systems. This makes it extremely difficult for the regime to acquire the foreign currency (like U.S. dollars or Euros) needed to import goods, technology, and components for its military and luxury items for its elite.
Cryptocurrency as an Alternative: Cryptocurrencies operate largely outside traditional banking regulations and centralized financial institutions. This makes them an attractive alternative for a sanctioned state. By stealing crypto, North Korea effectively generates hard currency that is harder to trace and block.
Funding WMD Programs: UN reports, U.S. government assessments, and cybersecurity firm analyses consistently state that the proceeds from these cybercrimes directly fund North Korea's prohibited weapons of mass destruction (WMD) programs, including nuclear weapons and ballistic missiles. Some estimates suggest cybercrime accounts for a significant portion, potentially 40% to 50% or more, of the regime's foreign currency income.
2. Cryptocurrency Theft: The Primary Goldmine
Massive Scale: North Korean hacking groups, notably the Lazarus Group and its sub-units like BlueNoroff, have stolen billions of dollars in cryptocurrency. For example, UN experts reported investigating 58 suspected North Korean cyberattacks between 2017 and 2023, valued at approximately $3 billion. The FBI recently attributed a single $1.5 billion hack against Bybit in February 2025 to North Korean actors.
Targeting Crypto Exchanges and DeFi Platforms:
Direct Hacks: They target centralized cryptocurrency exchanges, exploiting vulnerabilities in their security systems to steal large amounts of various cryptocurrencies.
Decentralized Finance (DeFi) Exploits: As the crypto landscape evolved, North Korean hackers shifted to more vulnerable DeFi platforms and "bridges" (which facilitate asset transfer between different blockchains). Notorious examples include the Harmony Horizon Bridge ($100 million+) and the Sky Mavis Ronin Bridge ($600 million+). DeFi platforms often have less stringent security and regulatory oversight, making them "softer targets."
Sophisticated Social Engineering: They employ elaborate social engineering tactics to gain initial access:
Fake Job Offers: Creating fake companies, LinkedIn profiles, and seemingly legitimate job opportunities to trick employees of crypto firms into downloading malicious software or revealing credentials.
Impersonation: Impersonating venture capitalists, recruiters, or other legitimate business contacts.
Deepfake Technology: Increasingly, they use AI-enabled deepfake technologies in video calls to disguise their appearance and build trust with targets.
Laundering Stolen Funds: After stealing the cryptocurrency, they employ sophisticated laundering techniques to convert it into fiat currency (like USD). This involves:
Mixing Services: Using "crypto mixers" like Tornado Cash (which was sanctioned by the U.S. Treasury for its role in laundering North Korean funds) to obscure the origin of the stolen assets.
Chain Hopping: Moving funds across multiple different blockchains to complicate tracing efforts.
Dispersing Funds: Spreading stolen assets across thousands of addresses to make tracking harder.
Conversion to Fiat: Eventually converting the "cleaned" crypto into traditional currencies through various brokers, often in countries with weaker anti-money laundering regulations.
3. Ransomware Attacks: Another Revenue Stream
Extortion and Disruption: Groups like Andariel, a Lazarus sub-group, have deployed ransomware (e.g., Maui ransomware) against a range of targets, including U.S. hospitals and healthcare providers.
Demanding Crypto Payments: Ransomware payments are typically demanded in cryptocurrency, providing another direct avenue for generating funds that are difficult to trace.
Double Extortion: Beyond just encrypting data, some groups engage in "double extortion," threatening to leak stolen sensitive data if the ransom isn't paid, increasing pressure on victims.
4. Illicit IT Worker Schemes:
While not strictly "cybercrime" in the hacking sense, this is a related and significant revenue stream that leverages North Korea's cyber talent.
Disguised Workers: North Korean IT workers, often highly skilled in programming and software development, fraudulently obtain remote freelance jobs globally, using false identities and documentation.
Funneling Wages: The wages earned from these legitimate-looking jobs are then funneled back to the North Korean regime, providing another source of foreign currency. Some reports indicate these workers also insert backdoors or malware into corporate systems they work on, potentially enabling future cybercrime or espionage.
In essence, North Korea has become an innovator in state-sponsored cybercrime out of necessity. Facing stringent sanctions, its regime has adapted by exploiting the nascent and less-regulated cryptocurrency ecosystem to generate a consistent and substantial stream of revenue, directly funding its strategic weapons programs and circumventing international efforts to curb its proliferation activities.
North Korea has allegedly leveraged cybercrime, particularly cryptocurrency theft and ransomware, as a crucial and increasingly preferred method to fund its regime and, specifically, its illicit weapons programs.
This strategy is a direct response to the crippling international sanctions imposed on the country.
Here's how they've allegedly done it:
1. Circumventing Sanctions for Hard Currency:
Financial Isolation: North Korea faces severe international sanctions that cut off its access to traditional global financial systems. This makes it extremely difficult for the regime to acquire the foreign currency (like U.S. dollars or Euros) needed to import goods, technology, and components for its military and luxury items for its elite.
Cryptocurrency as an Alternative: Cryptocurrencies operate largely outside traditional banking regulations and centralized financial institutions. This makes them an attractive alternative for a sanctioned state. By stealing crypto, North Korea effectively generates hard currency that is harder to trace and block.
Funding WMD Programs: UN reports, U.S. government assessments, and cybersecurity firm analyses consistently state that the proceeds from these cybercrimes directly fund North Korea's prohibited weapons of mass destruction (WMD) programs, including nuclear weapons and ballistic missiles. Some estimates suggest cybercrime accounts for a significant portion, potentially 40% to 50% or more, of the regime's foreign currency income.
2. Cryptocurrency Theft: The Primary Goldmine
Massive Scale: North Korean hacking groups, notably the Lazarus Group and its sub-units like BlueNoroff, have stolen billions of dollars in cryptocurrency. For example, UN experts reported investigating 58 suspected North Korean cyberattacks between 2017 and 2023, valued at approximately $3 billion. The FBI recently attributed a single $1.5 billion hack against Bybit in February 2025 to North Korean actors.
Targeting Crypto Exchanges and DeFi Platforms:
Direct Hacks: They target centralized cryptocurrency exchanges, exploiting vulnerabilities in their security systems to steal large amounts of various cryptocurrencies.
Decentralized Finance (DeFi) Exploits: As the crypto landscape evolved, North Korean hackers shifted to more vulnerable DeFi platforms and "bridges" (which facilitate asset transfer between different blockchains). Notorious examples include the Harmony Horizon Bridge ($100 million+) and the Sky Mavis Ronin Bridge ($600 million+). DeFi platforms often have less stringent security and regulatory oversight, making them "softer targets."
Sophisticated Social Engineering: They employ elaborate social engineering tactics to gain initial access:
Fake Job Offers: Creating fake companies, LinkedIn profiles, and seemingly legitimate job opportunities to trick employees of crypto firms into downloading malicious software or revealing credentials.
Impersonation: Impersonating venture capitalists, recruiters, or other legitimate business contacts.
Deepfake Technology: Increasingly, they use AI-enabled deepfake technologies in video calls to disguise their appearance and build trust with targets.
Laundering Stolen Funds: After stealing the cryptocurrency, they employ sophisticated laundering techniques to convert it into fiat currency (like USD). This involves:
Mixing Services: Using "crypto mixers" like Tornado Cash (which was sanctioned by the U.S. Treasury for its role in laundering North Korean funds) to obscure the origin of the stolen assets.
Chain Hopping: Moving funds across multiple different blockchains to complicate tracing efforts.
Dispersing Funds: Spreading stolen assets across thousands of addresses to make tracking harder.
Conversion to Fiat: Eventually converting the "cleaned" crypto into traditional currencies through various brokers, often in countries with weaker anti-money laundering regulations.
3. Ransomware Attacks: Another Revenue Stream
Extortion and Disruption: Groups like Andariel, a Lazarus sub-group, have deployed ransomware (e.g., Maui ransomware) against a range of targets, including U.S. hospitals and healthcare providers.
Demanding Crypto Payments: Ransomware payments are typically demanded in cryptocurrency, providing another direct avenue for generating funds that are difficult to trace.
Double Extortion: Beyond just encrypting data, some groups engage in "double extortion," threatening to leak stolen sensitive data if the ransom isn't paid, increasing pressure on victims.
4. Illicit IT Worker Schemes:
While not strictly "cybercrime" in the hacking sense, this is a related and significant revenue stream that leverages North Korea's cyber talent.
Disguised Workers: North Korean IT workers, often highly skilled in programming and software development, fraudulently obtain remote freelance jobs globally, using false identities and documentation.
Funneling Wages: The wages earned from these legitimate-looking jobs are then funneled back to the North Korean regime, providing another source of foreign currency. Some reports indicate these workers also insert backdoors or malware into corporate systems they work on, potentially enabling future cybercrime or espionage.
In essence, North Korea has become an innovator in state-sponsored cybercrime out of necessity. Facing stringent sanctions, its regime has adapted by exploiting the nascent and less-regulated cryptocurrency ecosystem to generate a consistent and substantial stream of revenue, directly funding its strategic weapons programs and circumventing international efforts to curb its proliferation activities.
2 months ago
What are some known North Korean hacking groups (e.g., Lazarus Group) and their main motives?
North Korea's hacking groups are distinct from those of many other nations due to their overwhelming primary motivation: generating revenue for the regime and funding its illicit weapons programs, particularly nuclear and ballistic missile development, in circumvention of severe international sanctions.
While they also engage in espionage, the financial imperative is paramount.
Here are some of the most well-known North Korean hacking groups (often considered sub-groups or operations under the broader "Lazarus Group" umbrella) and their main motives and alleged activities:
Lazarus Group (Aliases: APT38, Hidden Cobra, Guardians of Peace, ZINC, Diamond Sleet)
The Lazarus Group is the overarching umbrella term for North Korea's state-sponsored cyber operations. It's a highly sophisticated and prolific entity with various subdivisions specializing in different types of attacks.
Main Motives of Lazarus Group as a Whole:
Financial Gain (Primary): To generate illicit revenue for the Kim Jong Un regime, circumventing international sanctions that heavily restrict North Korea's access to traditional financial systems. This funding directly supports their weapons of mass destruction (WMD) and ballistic missile programs.
Cyber Espionage: To gather strategic intelligence on foreign governments, military capabilities, advanced technologies, and internal political dynamics, particularly concerning South Korea, the U.S., and Japan.
Destruction/Disruption: To cause disruption, sow fear, or retaliate against perceived adversaries.
Influence Operations: To shape public opinion or undermine trust in institutions, especially in South Korea.
Accusations and Notable Activities:
Sony Pictures Entertainment Hack (2014): One of their most infamous early operations, involving the theft of massive amounts of data (unreleased films, emails, personal employee info) and destructive wiper attacks on Sony's network, seemingly in retaliation for the film "The Interview."
Bangladesh Bank Heist (2016): A sophisticated operation that attempted to steal nearly $1 billion from Bangladesh Bank's account at the New York Federal Reserve via SWIFT messages, with $81 million successfully stolen and laundered.
WannaCry Ransomware Attack (2017): Widely attributed to Lazarus, this global ransomware worm exploited a Windows vulnerability (EternalBlue) to encrypt data and demand ransom payments, causing massive disruption to critical services worldwide.
Extensive Cryptocurrency Thefts: This has become their most consistent and lucrative line of effort. They have stolen billions of dollars in cryptocurrencies from exchanges, DeFi platforms, and individual wallets globally through phishing, social engineering, and exploiting vulnerabilities. Examples include the hacks of Harmony's Horizon Bridge ($100M+), Sky Mavis' Ronin Bridge ($600M+), and Bybit ($1.5B+ in 2025).
Sub-Groups of Lazarus:
North Korea often operates through specialized sub-groups that share resources and coordinate under the broader Lazarus umbrella.
1. BlueNoroff (Aliases: APT38, Sapphire Sleet, Alluring Pisces, TraderTraitor, UNC4899, CryptoCore)
Main Motive: Exclusively focused on large-scale financial theft, particularly targeting banks, financial institutions, and more recently, cryptocurrency exchanges and Web3 companies. They aim to steal vast sums of money for the regime.
Accusations and Notable Activities:
Bank Heists: Known for sophisticated attacks on traditional financial institutions, often involving deep reconnaissance of bank systems and SWIFT networks (e.g., the Bangladesh Bank Heist, attacks on banks in Poland, Mexico, Taiwan, etc.).
Cryptocurrency Theft: Currently one of the most active in this domain, using highly sophisticated social engineering tactics (e.g., fake job offers, deepfake Zoom calls) to trick employees of crypto firms into installing malware that facilitates the theft of digital assets. They often create elaborate fake companies and profiles.
2. Kimsuky (Aliases: Emerald Sleet, Velvet Chollima, TEMP.Firework)
Main Motive: Primarily focused on cyber espionage and intelligence gathering, specifically targeting South Korean government entities, think tanks, academic institutions, defense companies, and individuals involved in foreign policy and national security related to the Korean Peninsula, nuclear policy, and sanctions. They also target individuals in the US and Japan.
Accusations and Notable Activities:
Spear-Phishing Campaigns: Known for highly targeted spear-phishing emails, often impersonating legitimate contacts or organizations (e.g., South Korean government officials, journalists, academics) to deliver malware for intelligence collection. They use clever social engineering to trick victims into running malicious PowerShell scripts or installing backdoors.
Theft of Sensitive Data: Accused of stealing information related to inter-Korean affairs, nuclear negotiations, and sanctions enforcement.
Use of Illicit IT Worker Schemes: Some reporting links Kimsuky to the broader scheme of North Korean IT workers fraudulently gaining remote jobs globally, with the salaries funneled back to the regime. (While this scheme also funds the regime, Kimsuky's primary cyber mission remains espionage).
3. Andariel (Aliases: APT45, Silent Chollima, Onyx Fleet)
Main Motive: A mix of financial gain (often through ransomware) and cyber espionage, with a particular focus on military and defense information, especially targeting South Korea. They are also linked to direct revenue generation for the regime.
Accusations and Notable Activities:
Ransomware Deployments: Known for deploying ransomware, including Maui ransomware, against healthcare and critical infrastructure organizations to extort funds.
Stealing Defense Information: Accused of stealing technical information related to anti-aircraft weapon systems from South Korean defense companies.
ATM Cash-outs and Fraud: Engaging in activities like hacking into ATMs to withdraw cash or stealing bank card information for sale on the black market.
Illicit IT Worker Schemes: Recent U.S. sanctions (July 2025) have directly linked an individual associated with Andariel (Song Kum Hyok) to the fraudulent IT worker scheme that funnels money back to North Korea's weapons programs. This indicates a more direct role in generating revenue through non-cyber-attack means, complementing their cyber-enabled activities.
In summary, North Korean hacking groups are unique in their pervasive focus on generating illicit funds, primarily through large-scale cryptocurrency theft and financial fraud, to sustain the isolated regime and its nuclear ambitions. This financial imperative often goes hand-in-hand with strategic cyber espionage and, at times, disruptive operations designed to achieve Pyongyang's geopolitical goals.
North Korea's hacking groups are distinct from those of many other nations due to their overwhelming primary motivation: generating revenue for the regime and funding its illicit weapons programs, particularly nuclear and ballistic missile development, in circumvention of severe international sanctions.
While they also engage in espionage, the financial imperative is paramount.
Here are some of the most well-known North Korean hacking groups (often considered sub-groups or operations under the broader "Lazarus Group" umbrella) and their main motives and alleged activities:
Lazarus Group (Aliases: APT38, Hidden Cobra, Guardians of Peace, ZINC, Diamond Sleet)
The Lazarus Group is the overarching umbrella term for North Korea's state-sponsored cyber operations. It's a highly sophisticated and prolific entity with various subdivisions specializing in different types of attacks.
Main Motives of Lazarus Group as a Whole:
Financial Gain (Primary): To generate illicit revenue for the Kim Jong Un regime, circumventing international sanctions that heavily restrict North Korea's access to traditional financial systems. This funding directly supports their weapons of mass destruction (WMD) and ballistic missile programs.
Cyber Espionage: To gather strategic intelligence on foreign governments, military capabilities, advanced technologies, and internal political dynamics, particularly concerning South Korea, the U.S., and Japan.
Destruction/Disruption: To cause disruption, sow fear, or retaliate against perceived adversaries.
Influence Operations: To shape public opinion or undermine trust in institutions, especially in South Korea.
Accusations and Notable Activities:
Sony Pictures Entertainment Hack (2014): One of their most infamous early operations, involving the theft of massive amounts of data (unreleased films, emails, personal employee info) and destructive wiper attacks on Sony's network, seemingly in retaliation for the film "The Interview."
Bangladesh Bank Heist (2016): A sophisticated operation that attempted to steal nearly $1 billion from Bangladesh Bank's account at the New York Federal Reserve via SWIFT messages, with $81 million successfully stolen and laundered.
WannaCry Ransomware Attack (2017): Widely attributed to Lazarus, this global ransomware worm exploited a Windows vulnerability (EternalBlue) to encrypt data and demand ransom payments, causing massive disruption to critical services worldwide.
Extensive Cryptocurrency Thefts: This has become their most consistent and lucrative line of effort. They have stolen billions of dollars in cryptocurrencies from exchanges, DeFi platforms, and individual wallets globally through phishing, social engineering, and exploiting vulnerabilities. Examples include the hacks of Harmony's Horizon Bridge ($100M+), Sky Mavis' Ronin Bridge ($600M+), and Bybit ($1.5B+ in 2025).
Sub-Groups of Lazarus:
North Korea often operates through specialized sub-groups that share resources and coordinate under the broader Lazarus umbrella.
1. BlueNoroff (Aliases: APT38, Sapphire Sleet, Alluring Pisces, TraderTraitor, UNC4899, CryptoCore)
Main Motive: Exclusively focused on large-scale financial theft, particularly targeting banks, financial institutions, and more recently, cryptocurrency exchanges and Web3 companies. They aim to steal vast sums of money for the regime.
Accusations and Notable Activities:
Bank Heists: Known for sophisticated attacks on traditional financial institutions, often involving deep reconnaissance of bank systems and SWIFT networks (e.g., the Bangladesh Bank Heist, attacks on banks in Poland, Mexico, Taiwan, etc.).
Cryptocurrency Theft: Currently one of the most active in this domain, using highly sophisticated social engineering tactics (e.g., fake job offers, deepfake Zoom calls) to trick employees of crypto firms into installing malware that facilitates the theft of digital assets. They often create elaborate fake companies and profiles.
2. Kimsuky (Aliases: Emerald Sleet, Velvet Chollima, TEMP.Firework)
Main Motive: Primarily focused on cyber espionage and intelligence gathering, specifically targeting South Korean government entities, think tanks, academic institutions, defense companies, and individuals involved in foreign policy and national security related to the Korean Peninsula, nuclear policy, and sanctions. They also target individuals in the US and Japan.
Accusations and Notable Activities:
Spear-Phishing Campaigns: Known for highly targeted spear-phishing emails, often impersonating legitimate contacts or organizations (e.g., South Korean government officials, journalists, academics) to deliver malware for intelligence collection. They use clever social engineering to trick victims into running malicious PowerShell scripts or installing backdoors.
Theft of Sensitive Data: Accused of stealing information related to inter-Korean affairs, nuclear negotiations, and sanctions enforcement.
Use of Illicit IT Worker Schemes: Some reporting links Kimsuky to the broader scheme of North Korean IT workers fraudulently gaining remote jobs globally, with the salaries funneled back to the regime. (While this scheme also funds the regime, Kimsuky's primary cyber mission remains espionage).
3. Andariel (Aliases: APT45, Silent Chollima, Onyx Fleet)
Main Motive: A mix of financial gain (often through ransomware) and cyber espionage, with a particular focus on military and defense information, especially targeting South Korea. They are also linked to direct revenue generation for the regime.
Accusations and Notable Activities:
Ransomware Deployments: Known for deploying ransomware, including Maui ransomware, against healthcare and critical infrastructure organizations to extort funds.
Stealing Defense Information: Accused of stealing technical information related to anti-aircraft weapon systems from South Korean defense companies.
ATM Cash-outs and Fraud: Engaging in activities like hacking into ATMs to withdraw cash or stealing bank card information for sale on the black market.
Illicit IT Worker Schemes: Recent U.S. sanctions (July 2025) have directly linked an individual associated with Andariel (Song Kum Hyok) to the fraudulent IT worker scheme that funnels money back to North Korea's weapons programs. This indicates a more direct role in generating revenue through non-cyber-attack means, complementing their cyber-enabled activities.
In summary, North Korean hacking groups are unique in their pervasive focus on generating illicit funds, primarily through large-scale cryptocurrency theft and financial fraud, to sustain the isolated regime and its nuclear ambitions. This financial imperative often goes hand-in-hand with strategic cyber espionage and, at times, disruptive operations designed to achieve Pyongyang's geopolitical goals.
4 months ago
Trump Is Bleeding Hundreds of Millions Thanks to Musk’s War.
The explosion of Donald Trump’s once-cozy friendship with Elon Musk is hitting them hard where it hurts most—in the pocketbook.
As reported Thursday, Musk’s personal fortune was cut by $26.6 billion after Tesla shares slumped by more than 14 percent, wiping a mind-boggling $150 billion off the EV giant’s market value.
But Trump isn’t escaping unscathed. According to Axios, Trump Media & Technology Group stock declined 8 percent, while his MAGA-fueled $TRUMP cryptocurrency tumbled 12 percent—bleeding him of more than a billion dollars.
The website reported that the 8 percent dip in Trump Media & Technology Group cost the president around $202 million.
The explosion of Donald Trump’s once-cozy friendship with Elon Musk is hitting them hard where it hurts most—in the pocketbook.
As reported Thursday, Musk’s personal fortune was cut by $26.6 billion after Tesla shares slumped by more than 14 percent, wiping a mind-boggling $150 billion off the EV giant’s market value.
But Trump isn’t escaping unscathed. According to Axios, Trump Media & Technology Group stock declined 8 percent, while his MAGA-fueled $TRUMP cryptocurrency tumbled 12 percent—bleeding him of more than a billion dollars.
The website reported that the 8 percent dip in Trump Media & Technology Group cost the president around $202 million.
6 months ago
Fortune 500 companies have unwittingly hired thousands of software engineers who claim to be American developers but are actually North Korean citizens using stolen or fake identities. Through legitimate employment, the IT workers are illegally funneling their salaries to Kim Jong Un’s regime to fund prohibited weapons of mass destruction and ballistic missile programs. The U.S. Treasury, State Department, and FBI collectively estimate the IT workers scam has generated hundreds of millions each year since 2018.
About 95% of the résumés Harrison Leggio gets in response to job postings for his crypto startup g8keep are from North Korean engineers pretending to be American, the founder estimates. He even once interviewed a job seeker who claimed to have worked at the same Manhattan-based cryptocurrency exchange as he did, during the time he worked there.
About 95% of the résumés Harrison Leggio gets in response to job postings for his crypto startup g8keep are from North Korean engineers pretending to be American, the founder estimates. He even once interviewed a job seeker who claimed to have worked at the same Manhattan-based cryptocurrency exchange as he did, during the time he worked there.
7 months ago
Senior officers from Iran’s Revolutionary Guard have been accused of pilfering approximately $21 million in cryptocurrency while investigating a corruption case.
What Happened: The alleged theft took place during a probe into Cryptoland, a digital exchange that was shuttered following the arrest of its CEO, Sina Estavi, in May 2021.
Blockchain records showed that six billion BRG tokens, created by Estavi, were transferred from his cryptocurrency wallet a day after his arrest, the report said. These tokens were allegedly sold off by officers of the Revolutionary Guard, generating millions for themselves.
Two key figures, Mehdi Hajipour and Mehdi Badi, senior interrogators in the Revolutionary Guard’s economic branch, were identified by a court-appointed expert. The expert’s report confirmed that wallets controlled by Hajipour sold over $21 million worth of BRG tokens.
What Happened: The alleged theft took place during a probe into Cryptoland, a digital exchange that was shuttered following the arrest of its CEO, Sina Estavi, in May 2021.
Blockchain records showed that six billion BRG tokens, created by Estavi, were transferred from his cryptocurrency wallet a day after his arrest, the report said. These tokens were allegedly sold off by officers of the Revolutionary Guard, generating millions for themselves.
Two key figures, Mehdi Hajipour and Mehdi Badi, senior interrogators in the Revolutionary Guard’s economic branch, were identified by a court-appointed expert. The expert’s report confirmed that wallets controlled by Hajipour sold over $21 million worth of BRG tokens.
1 yr. ago
For your safety deactivate your telegram account and delete the app.
Powerful criminal networks in Southeast Asia extensively use the messaging app Telegram which has enabled a fundamental change in the way organised crime can conduct large-scale illicit activity, the United Nations said in a report on Monday.
Hacked data including credit card details, passwords and browser history are openly traded on a vast scale on the app which has sprawling channels with little moderation, the report by the United Nations Office for Drugs and Crime (UNODC) said.
Tools used for cybercrime, including so-called deepfake software designed for fraud, and data-stealing malware are also widely sold, while unlicensed cryptocurrency exchanges offer money laundering services.
There is "strong evidence of underground data markets moving to Telegram and vendors actively looking to target transnational organized crime groups based in Southeast Asia," the report said.
Powerful criminal networks in Southeast Asia extensively use the messaging app Telegram which has enabled a fundamental change in the way organised crime can conduct large-scale illicit activity, the United Nations said in a report on Monday.
Hacked data including credit card details, passwords and browser history are openly traded on a vast scale on the app which has sprawling channels with little moderation, the report by the United Nations Office for Drugs and Crime (UNODC) said.
Tools used for cybercrime, including so-called deepfake software designed for fraud, and data-stealing malware are also widely sold, while unlicensed cryptocurrency exchanges offer money laundering services.
There is "strong evidence of underground data markets moving to Telegram and vendors actively looking to target transnational organized crime groups based in Southeast Asia," the report said.
1 yr. ago
How is India positioned in the global tech industry?
By Hugo Keji
India holds a significant and growing position in the global tech industry.
IT Services and Outsourcing:-
Major Hub: India is a leading global destination for IT services and outsourcing. Companies like TCS, Infosys, and Wipro are among the largest IT services firms worldwide.
Cost-Effective: The country is known for its cost-effective solutions, skilled labor force, and large English-speaking population, which attracts global companies to outsource their IT needs to India.
Software Development-
Software Exporter: India is a major exporter of software services, contributing significantly to its economy. Indian software engineers and developers are highly sought after worldwide.
Innovation and Startups: Cities like Bangalore, Hyderabad, and Pune are notable for their vibrant startup ecosystems, fostering innovation in various tech fields.
Talent Pool-
Skilled Workforce: India produces a large number of engineering graduates annually. Institutions like the Indian Institutes of Technology (IITs) are renowned for their rigorous programs.
Global Presence: Indian tech professionals hold significant positions in global tech giants like Google, Microsoft, and Adobe, often leading key projects and divisions.
Tech Hubs and Infrastructure-
Bangalore: Often referred to as the "Silicon Valley of India," Bangalore is home to numerous tech companies, startups, and research institutions.
Growing Ecosystem: Other cities such as Hyderabad, Chennai, and Pune are also emerging as important tech hubs.
Government Initiatives
Digital India: The government’s Digital India campaign aims to enhance digital infrastructure and increase internet connectivity across the country.
Startup India: Initiatives like Startup India provide support and funding to new ventures, boosting the tech startup ecosystem.
Emerging Technologies-
AI and Machine Learning: Indian companies and research institutions are increasingly focusing on AI, machine learning, and data science.
Fintech: India is rapidly becoming a leader in fintech innovation, with a high adoption rate of digital payments and fintech services.
Challenges-
Infrastructure: Despite advancements, there are still challenges related to infrastructure, especially in rural areas.
Skill Gaps: While there is a large talent pool, there is a need for continuous skill upgradation to keep pace with evolving technologies.
Overall, India is a critical player in the global tech industry, contributing significantly to innovation, software development, and IT services.
What are the emerging trends in technology and innovation in India?
India is at the forefront of various emerging trends in technology and innovation.
Some of the key trends include:
Artificial Intelligence (AI) and Machine Learning (ML)-
AI-Driven Solutions: Increasing use of AI and ML in sectors like healthcare, finance, agriculture, and education.
Startups and Research: Numerous startups are focusing on AI-based products and services. Institutions and research centers are actively involved in advancing AI research.
Fintech-
Digital Payments: Widespread adoption of digital payment platforms such as UPI (Unified Payments Interface), Paytm, and Google Pay.
Blockchain and Cryptocurrency: Growing interest and experimentation with blockchain technology and cryptocurrencies for secure and transparent transactions.
Internet of Things (IoT)-
Smart Cities: Development of smart cities with IoT-enabled infrastructure for better urban management and services.
Industrial IoT: Increasing implementation of IoT in manufacturing and supply chain management for improved efficiency and productivity.
5G and Telecommunications-
5G Rollout: Accelerated deployment of 5G networks to enhance connectivity and support advanced applications like autonomous vehicles and smart cities.
Telecom Innovations: Development of new telecom solutions and services to support the growing demand for high-speed internet.
EdTech-
Online Learning Platforms: Rise of online education platforms like BYJU’S, Unacademy, and Vedantu, providing accessible and personalized learning experiences.
Virtual Classrooms: Increased use of virtual classrooms and digital tools for remote education.
HealthTech-
Telemedicine: Growth in telemedicine services enabling remote consultations and digital health monitoring.
Health Apps: Development of mobile health applications for fitness tracking, chronic disease management, and mental health support.
Agritech-
Precision Agriculture: Use of drones, sensors, and data analytics to enhance crop yield and optimize resource usage.
Agri-marketplaces: Online platforms connecting farmers directly with buyers, improving market access and price transparency.
Renewable Energy and Sustainability-
Solar Energy: Expansion of solar power projects and initiatives to harness renewable energy sources.
Green Technology: Innovations in sustainable technologies and practices aimed at reducing carbon footprint and promoting environmental conservation.
E-commerce and Retail-
Digital Transformation: Rapid growth of e-commerce platforms and the digital transformation of traditional retail businesses.
Logistics and Supply Chain: Innovations in logistics and supply chain management to support the burgeoning e-commerce industry.
Cybersecurity-
Enhanced Security Measures: Development of advanced cybersecurity solutions to protect against increasing cyber threats and data breaches.
Regulatory Frameworks: Strengthening of regulatory frameworks to ensure data privacy and security.
Autonomous and Electric Vehicles-
EV Adoption: Promotion of electric vehicles (EVs) with initiatives to build charging infrastructure and incentives for EV purchases.
Autonomous Tech: Research and development in autonomous vehicle technology for future deployment.
These trends reflect India’s dynamic and rapidly evolving tech landscape, driven by innovation and supported by a robust startup ecosystem, government initiatives, and a large, skilled workforce.
By Hugo Keji
India holds a significant and growing position in the global tech industry.
IT Services and Outsourcing:-
Major Hub: India is a leading global destination for IT services and outsourcing. Companies like TCS, Infosys, and Wipro are among the largest IT services firms worldwide.
Cost-Effective: The country is known for its cost-effective solutions, skilled labor force, and large English-speaking population, which attracts global companies to outsource their IT needs to India.
Software Development-
Software Exporter: India is a major exporter of software services, contributing significantly to its economy. Indian software engineers and developers are highly sought after worldwide.
Innovation and Startups: Cities like Bangalore, Hyderabad, and Pune are notable for their vibrant startup ecosystems, fostering innovation in various tech fields.
Talent Pool-
Skilled Workforce: India produces a large number of engineering graduates annually. Institutions like the Indian Institutes of Technology (IITs) are renowned for their rigorous programs.
Global Presence: Indian tech professionals hold significant positions in global tech giants like Google, Microsoft, and Adobe, often leading key projects and divisions.
Tech Hubs and Infrastructure-
Bangalore: Often referred to as the "Silicon Valley of India," Bangalore is home to numerous tech companies, startups, and research institutions.
Growing Ecosystem: Other cities such as Hyderabad, Chennai, and Pune are also emerging as important tech hubs.
Government Initiatives
Digital India: The government’s Digital India campaign aims to enhance digital infrastructure and increase internet connectivity across the country.
Startup India: Initiatives like Startup India provide support and funding to new ventures, boosting the tech startup ecosystem.
Emerging Technologies-
AI and Machine Learning: Indian companies and research institutions are increasingly focusing on AI, machine learning, and data science.
Fintech: India is rapidly becoming a leader in fintech innovation, with a high adoption rate of digital payments and fintech services.
Challenges-
Infrastructure: Despite advancements, there are still challenges related to infrastructure, especially in rural areas.
Skill Gaps: While there is a large talent pool, there is a need for continuous skill upgradation to keep pace with evolving technologies.
Overall, India is a critical player in the global tech industry, contributing significantly to innovation, software development, and IT services.
What are the emerging trends in technology and innovation in India?
India is at the forefront of various emerging trends in technology and innovation.
Some of the key trends include:
Artificial Intelligence (AI) and Machine Learning (ML)-
AI-Driven Solutions: Increasing use of AI and ML in sectors like healthcare, finance, agriculture, and education.
Startups and Research: Numerous startups are focusing on AI-based products and services. Institutions and research centers are actively involved in advancing AI research.
Fintech-
Digital Payments: Widespread adoption of digital payment platforms such as UPI (Unified Payments Interface), Paytm, and Google Pay.
Blockchain and Cryptocurrency: Growing interest and experimentation with blockchain technology and cryptocurrencies for secure and transparent transactions.
Internet of Things (IoT)-
Smart Cities: Development of smart cities with IoT-enabled infrastructure for better urban management and services.
Industrial IoT: Increasing implementation of IoT in manufacturing and supply chain management for improved efficiency and productivity.
5G and Telecommunications-
5G Rollout: Accelerated deployment of 5G networks to enhance connectivity and support advanced applications like autonomous vehicles and smart cities.
Telecom Innovations: Development of new telecom solutions and services to support the growing demand for high-speed internet.
EdTech-
Online Learning Platforms: Rise of online education platforms like BYJU’S, Unacademy, and Vedantu, providing accessible and personalized learning experiences.
Virtual Classrooms: Increased use of virtual classrooms and digital tools for remote education.
HealthTech-
Telemedicine: Growth in telemedicine services enabling remote consultations and digital health monitoring.
Health Apps: Development of mobile health applications for fitness tracking, chronic disease management, and mental health support.
Agritech-
Precision Agriculture: Use of drones, sensors, and data analytics to enhance crop yield and optimize resource usage.
Agri-marketplaces: Online platforms connecting farmers directly with buyers, improving market access and price transparency.
Renewable Energy and Sustainability-
Solar Energy: Expansion of solar power projects and initiatives to harness renewable energy sources.
Green Technology: Innovations in sustainable technologies and practices aimed at reducing carbon footprint and promoting environmental conservation.
E-commerce and Retail-
Digital Transformation: Rapid growth of e-commerce platforms and the digital transformation of traditional retail businesses.
Logistics and Supply Chain: Innovations in logistics and supply chain management to support the burgeoning e-commerce industry.
Cybersecurity-
Enhanced Security Measures: Development of advanced cybersecurity solutions to protect against increasing cyber threats and data breaches.
Regulatory Frameworks: Strengthening of regulatory frameworks to ensure data privacy and security.
Autonomous and Electric Vehicles-
EV Adoption: Promotion of electric vehicles (EVs) with initiatives to build charging infrastructure and incentives for EV purchases.
Autonomous Tech: Research and development in autonomous vehicle technology for future deployment.
These trends reflect India’s dynamic and rapidly evolving tech landscape, driven by innovation and supported by a robust startup ecosystem, government initiatives, and a large, skilled workforce.
2 yr. ago
Founder of Taiwan’s ACE Exchange David Pan Arrested on Fraud Charges Totaling $32.1M
The founder of ACE Exchange, one of Taiwan's largest cryptocurrency exchanges, has been arrested on suspicion of orchestrating a fraudulent scheme involving worthless cryptocurrencies.
David Pan, the founder of ACE, and 14 other individuals were apprehended by authorities on Wednesday. Pan and an accomplice surnamed Lin are accused of collaborating for three years to lure investors into purchasing valueless cryptocurrencies, including MOCT.
Police conducted raids at multiple locations in Taiwan, including the ACE Exchange office, and seized assets worth over $6.4 million, including cash and cryptocurrencies.
On X, the ACE exchange clarified that the arrested individuals are on the “token project side” and not employees of the exchange and that Pan had ceased involvement in daily operations since 2022. The spokesperson said ACE Exchange is cooperating with the police investigation as a witness
The founder of ACE Exchange, one of Taiwan's largest cryptocurrency exchanges, has been arrested on suspicion of orchestrating a fraudulent scheme involving worthless cryptocurrencies.
David Pan, the founder of ACE, and 14 other individuals were apprehended by authorities on Wednesday. Pan and an accomplice surnamed Lin are accused of collaborating for three years to lure investors into purchasing valueless cryptocurrencies, including MOCT.
Police conducted raids at multiple locations in Taiwan, including the ACE Exchange office, and seized assets worth over $6.4 million, including cash and cryptocurrencies.
On X, the ACE exchange clarified that the arrested individuals are on the “token project side” and not employees of the exchange and that Pan had ceased involvement in daily operations since 2022. The spokesperson said ACE Exchange is cooperating with the police investigation as a witness
