119: Hot Wallets
Get the full experience! Sign up to access transcripts, personalized summaries, and more features.
Episode Description
In this episode we interview journalist Geoff White to discuss some of the recent crypto currency heists that have been happening. Geoff has been tracking a certain group of thieves for some time and shares his knowledge of what he’s found.
Much of what we talk about in this episode has been published in Geoff’s new book The Lazarus Heist: From Hollywood to High Finance: Inside North Korea’s Global Cyber War (https://amzn.to/3mKf1qB).
Sponsors
Support for this show comes from Axonius. Securing assets — whether managed, unmanaged, ephemeral, or in the cloud — is a tricky task. The Axonius Cybersecurity Asset Management Platform correlates asset data from existing solutions to provide an always up-to-date inventory, uncover gaps, and automate action. Axonius gives IT and security teams the confidence to control complexity by mitigating threats, navigating risk, decreasing incidents, and informing business-level strategy — all while eliminating manual, repetitive tasks. axonius.com/darknet
Support for this show comes from Thinkst Canary. Their canaries attract malicious actors in your network and then send you an alert if someone tries to access them. Great early warning system for knowing when someone is snooping around where they shouldn’t be. Check them out at https://canary.tools.
Listen to Episode
AI-Generated Summary
The Shift of Heist Films to Cryptocurrency Theft
The episode kicks off with a discussion on how heist films, like 'Oceans 11', might be fading away as the biggest thefts today typically happen in the digital realm. The host wonders about the aesthetics of hacking and how captivating it is compared to the traditional heists featured in movies. Jack presents hypothetical scenarios, such as 'Reservar Doge', emphasizing the drastic shift in criminal landscape with the rise of cryptocurrency heists.
NiceHash and the $75 Million Heist
Jack interviews investigative journalist Geoff White about the NiceHash hack, where a phishing attack leads to attackers stealing approximately $75 million worth of Bitcoin. Geoff details the complexity of cryptocurrency theft, explaining how once stolen, it is almost impossible to retrieve the funds. They delve into the investigation's details, highlighting the involvement of US authorities such as the FBI.
The North Korean Thread: The Lazarus Group
The conversation transitions to the notorious Lazarus Group, a group linked to North Korea and responsible for a series of high-profile cyber heists, including the NiceHash hack. Geoff elaborates on how they evolved and became adept in cryptocurrency theft after previous ransomware experiences like WannaCry. They dissect the methods used by Lazarus to launder stolen funds and how geopolitical factors play a role.
Methodologies and the Future of Cyber Heists
The episode further explores methods employed by North Korean hackers to blend into the tech landscape, such as impersonating IT workers abroad. Geoff cites a story involving a job interview with a potential North Korean hacker who used a fake identity. Plus, they discuss the emergence of various cryptocurrency-related scams and the continuous evolution of tactics employed by these cybercriminals.
Famous Crypto Heists and their Implications
Geoff and Jack wrap up the main discussion by mentioning additional notable cryptocurrency heists, including the Ronin Network hack valued over $600 million, emphasizing the lucrative yet perilous world of cryptocurrencies. The conversation underscores the importance for companies in this space to adopt robust cybersecurity practices and be aware of the increasing sophistication of threats.
Ready to get started?
Join other podcast enthusiasts who are getting podcast summaries.
Sign Up Free