Mandiant reports that a North Korean group used crypto to launder stolen funds
The North Korean group APT43 used hash rental and cloud mining services to launder stolen funds, according to a new report by the intelligence firm Mandiant.
According to a new report from threat intelligence firm Mandiant, the North Korean group APT43 utilized crypto services to launder stolen funds.
According to the report, this is part of the group’s larger mission of cyber espionage against other nations, with the United States and South Korea being two primary targets.
According to the report, “APT43 most likely carries out such operations to sustain its own operations,” in contrast to other North Korean organizations like APT38, whose primary job is likely to bring in funds for the government.
APT43 likely used stolen bitcoin to pay for hash rental and cloud mining services, resulting in “clean bitcoin,” according to Mandiant.
The company added, “For a fee, these hash rental and cloud mining services provide hash power, which is utilized to mine cryptocurrency to a wallet picked by the buyer without any blockchain-based connection to the buyer’s original payments.”
Cloud mining services enable anyone to mine bitcoin by paying a charge rather than installing and operating their own remote mining devices.