Are North Korean IT Remote Workers Targeting Crypto Firms? Here’s What We Know

According to the US Government, North Korean IT workers are flooding the freelance market. It’s illegal for US businesses to employ them, but, what if they have no idea they’re doing it? In this new remote work world we’re living in, it’s completely possible. The North Korean workers are targeting all kinds of technology-focused businesses, but of course, the CNN report on the matter focused on cryptocurrency firms.

“It’s an elaborate money-making scheme that relies on front companies, contractors and deception to prey on a volatile industry that is always on the hunt for top talent. North Korean tech workers can earn more than $300,000 annually — hundreds of times the average income of a North Korean citizen — and up to 90% of their wages go to the regime, according to the US advisory.”

In contrast, this is what the US Government actually published: 

“The DPRK dispatches thousands of highly skilled IT workers around the world to generate revenue that contributes to its weapons of mass destruction (WMD) and ballistic missile programs, in violation of U.S. and UN sanctions. These IT workers take advantage of existing demands for specific IT skills, such as software and mobile application development, to obtain freelance employment contracts from clients around the world, including in North America, Europe, and East Asia.”

It’s worth noting that the document doesn’t mention “crypto” or “bitcoin,” but let’s read what mainstream media has to say.

How Does CNN Relate North Korean IT Workers To Crypto?  

The plan is simple, to associate this new development with the numerous crypto-related hacks that NewsBTC has timely reported on: 

“North Korean government-backed hackers have stolen the equivalent of billions of dollars in recent years by raiding cryptocurrency exchanges, according to the United Nations. In some cases, they’ve been able to nab hundreds of millions of dollars in a single heist, the FBI and private investigators say.”

To establish authority, CNN also quotes US Government-related individuals, like “Soo Kim, a former North Korea analyst at the CIA.” She said, “(The North Koreans) take this very seriously. It’s not just some rando in his basement trying to mine cryptocurrency it’s a way of life.” Is she talking about the hackers or the job hunters, though? “Even though the tradecraft is not perfect right now, in terms of their ways of approaching foreigners and preying upon their…