Binance co-founder Changpeng Zhao (CZ) has warned that North Korean hackers are using increasingly advanced methods to infiltrate cryptocurrency companies. In a recent X post, CZ explained:
“They exploit trust, creativity, and patience to breach platforms and steal user funds.”
According to Chainalysis, North Korean hackers stole around $1.34 billion in crypto in 2024, with both the U.S. and U.N. confirming that the stolen money is being used to help finance North Korea’s weapons program.
Job Applications as a Trojan Horse in Crypto Security Breaches
One of the most common tactics involves posing as job candidates. CZ wrote:
“Hackers often apply for developer, finance, or security positions. Once hired, they have insider access — a long-term foot in the door for future attacks.”
This strategy allows them to embed themselves in organizations and quietly prepare for larger hacks.
Fake Employers and Malware Hidden in Coding Tests
Another tactic is impersonating employers. During fake interviews on Zoom, attackers create staged technical issues and trick employees into downloading malicious “updates.”
CZ explained:
“In some cases, they send ‘sample code’ for a coding test. That code is secretly malware.”
This turns routine recruitment tasks into high-risk entry points.
Customer Support Exploits in Crypto Exchanges
Hackers also pretend to be regular users seeking help. They send links that look legitimate but redirect to infected pages.
“Once an employee clicks, attackers can steal data or even gain direct access to exchange systems,” CZ warned.
Insider Bribery and Outsourced Service Vulnerabilities
Some hackers bypass technical firewalls altogether by bribing employees or targeting third-party vendors.
CZ pointed to a recent case:
“In India, hackers breached a major outsourced service provider. Critical data from a U.S. exchange leaked — users lost over $400 million.”
Social Engineering Attacks: From Screen Sharing to One-Click Hacks
Crypto investor Anndy Lian added his warning on X:
“Hackers don’t always need files for you to click. Just sharing your screen can give them the access they need.”
CZ agreed, adding that even one-click hacks — like the rumored Jeff Bezos phone breach — prove how dangerous a single link can be.
Community members echoed these concerns. One investor wrote:
“I lost my Instagram account after clicking a link. The hackers took over instantly.”
Lian himself revealed he permanently lost his original Instagram account this way, underscoring how hard recovery is once control is lost.
North Korea’s Lazarus Group and Global Crypto Theft
The Lazarus Group, North Korea’s state-backed hackers, has been behind billions in stolen crypto over the past decade. According to Chainalysis, they stole nearly $1.7 billion in 2022, with hundreds of millions more in 2023 and 2024.
Reports suggest 2025 is already on track to see massive thefts linked to these groups.
CZ ended his post with a clear reminder:
“Stay SAFU. Awareness and discipline are still the best defenses against these persistent threats.”
Source: https://coinpedia.org/news/binance-founder-changpeng-zhao-north-koreas-1-34b-crypto-theft-tactics/
Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.
Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.
An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.
