Based on a recent report by Mandiant, a cybersecurity firm based in the US, North Korean hacker group APT43, also known as Kimuski, is utilizing cloud mining services to launder the cryptocurrencies they’ve stolen.
The report further reveals that APT43 is stealing enough digital assets to purchase operational infrastructure that’s in line with North Korea’s state ideology, Juche.
This group of hackers is using cloud mining services to mine cryptocurrencies without having to buy and install their own equipment. APT43 uses the profits gained from this illegal activity to fund its operations, which Mandiant claims to have been monitoring since 2018.
The report labels APT43 as a moderately sophisticated hacker group that’s working in support of the North Korean regime by gathering strategic intelligence.
North Korean hackers have been operating in the cryptosphere for years, hacking protocols and stealing digital assets, with a staggering $1.2 billion stolen in the past five years alone.
The UN also submitted a report in February to the North Korea Sanctions Committee, revealing that North Korean hackers have stolen more cryptoassets in 2022 than in any other year.