US Intelligence warns against Cyber Attacks on Banks from North Korea

North Korea’s noted hacking group ‘The BeagleBoyz’ seems to have set its eyes on all the bank ATMs operating in United States and across the world as the US Intelligence agencies have warned that the 2015 founded hacking group has turned highly active in recent times.

Released as ‘Substantial Activity Report’, the warning released by CISA in conjugation with US Treasury and US Cyber Command along with FBI says that North Korean hackers are targeting banks operating across the world with more focus been done on those operating in South America and Africa.

As per the report released by the fed, BeagleBoyz became active in 2015 and showed some dullness in late 2018, before re-emerging with full strength in late 2019.

Linked to the intelligence services of North Korea, the group appears to stick to a new activity that the Lazarus and Bluenoroff have ignored till date- steal money from banks and cryptocurrency exchange outlets, only to fund the nuclear ambitions of the Kim Jong UN who is not keeping well these days.

BeagleBoyz operate uniquely first deploy malware on the cash transactions systems, then steal money, and then customize the malware such that it destroys itself after a specific time leaving no trace to the forensic experts.

Forbes in its recent report has mentioned the above-stated hacking group as a state-sponsored crime that is sophisticated and persistent and disrupts banking communication- giving access to hackers to sneak through back doors to make fraudulent money transfers from accounts to BTC wallets.

So, US CERT is warning banks to prepare for an upcoming cyber storm in the form of “ Natural DDoS” attacks just when the economic stimulus packages and COVID protection measures are kicking in before the US Presidential Polls 2020.

Naveen Goud
Naveen Goud is a writer at Cybersecurity Insiders covering topics such as Mergers & Acquisitions, Startups, Cyber Attacks, Cloud Security and Mobile Security

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