Crypto needs dual wallet management, AI monitoring of North Korean hackers
AI threat detection and enhanced wallet management may save crypto firms from North Korean infiltrators, cybersecurity experts told Cointelegraph.
Cryptocurrency companies need to strengthen defenses against North Korean hackers who are seeking jobs at major Web3 businesses to stage large-scale exploits, security experts told Cointelegraph.
Hiring North Korean developers may open a crypto project’s infrastructure to the threat of hacks and data breaches similar to the Coinbase data breach in May, which exposed the wallet balances and physical locations of about 1% of the exchange’s monthly users, potentially costing the exchange up to $400 million in reimbursement expenses.
To fight this growing threat, the industry needs to adopt enhanced wallet management standards, real-time AI monitoring for the early prevention of exploits and more secure employee vetting practices, crypto security experts told Cointelegraph.