Crypto Fund Founder Warns Industry on North Korean Cyber Attacks

All prominent cryptocurrency organizations are probably being targeted by North Korean hackers and should strengthen their cybersecurity, according to the founder of a crypto fund.

North Korea is likely to devote more resources to such attacks given the success it’s had so far, said Arthur Cheong, who set up DeFiance Capital in Singapore in 2020 and was himself a recent victim of a cybercrime. He advised crypto firms to take extra care in hiring remote teams, have dedicated computers for crypto transactions and revoke unnecessary token approvals.