Reports from cybersecurity firms or industry analyses

North Korea's Cyber Scheme Generates $88 Million over Six Years from U.S. and Australian Firms via Fake IT Workers

Dec 12, 2024, 11:42 PM

A recent investigation has uncovered a sophisticated cyber scheme orchestrated by North Korean nationals, which reportedly generated at least $88 million over six years. The scheme involved the use of fake, stolen, or borrowed identities of Americans to deceive U.S. companies into hiring them as remote IT workers. The funds raised through this operation are believed to have been funneled into North Korea's weapons development programs. Additionally, the scam has affected not only American firms but also Australian companies, highlighting the global reach of this operation. Counterintelligence officials have indicated that the extent of the damage from related cyber activities, including telecom hacks attributed to China, further complicates the security landscape.