How Coinbase Safeguards Data Against North Korean Hackers

North Korean Infiltration Tactics: Coinbase CEO Brian Armstrong revealed that North Korean hackers are attempting to infiltrate tech companies by posing as remote IT workers, with around 500 new agents graduating from special schools every quarter.

Bribery Attempts and Security Measures: Hackers have tried to bribe Coinbase support staff for sensitive information, prompting the company to implement stricter hiring practices and security measures, including limiting access to sensitive data to fingerprinted U.S. citizens.

Funding for Nuclear Programs: Stolen cryptocurrencies are believed to fund North Korea's nuclear program, with over $5 billion in crypto stolen since 2017, including a significant heist of $1.46 billion from ByBit.

Lack of Competence Among Agents: Despite their low technical skills leading to quick firings, North Korean agents often find new jobs and manage to steal cryptocurrency, raising concerns about the effectiveness of current hiring practices in tech companies.