- Changpeng Zhao warns the crypto industry about sophisticated North Korean hacking threats targeting companies and employees.
- Hackers disguise themselves as job seekers, employers, or customers, using malware and insider access.
- Zhao urges firms to strengthen security training, carefully screen applicants, and guard against insider risks.
Changpeng Zhao, Binance CEO, recently issued a stern warning regarding the crypto sector regarding intensifying hacking schemes believed to be linked to North Korean organizations. CZ explained in a statement on X how these hackers are adopting creative ways to target employees, organizations, and outsourced service providers.
His message carried urgency, stressing that the crypto space is beset with risks that transcend traditional hacking attempts. The warning comes at a time when crypto platforms are still recovering from several high-profile breaches, making his advice particularly timely for both small firms and major exchanges.
Changpeng Zhao Exposes How Hackers are Targeting Crypto Firms by Posing as Job Candidates
Changpeng Zhao revealed that one of the most effective methods North Korean hackers are currently using involves posing as developers, security specialists, or finance professionals during fake job applications. By gaining access to company systems under the guise of employment, attackers can patiently build backdoor entry into networks while avoiding early detection.
Some hackers pretend to be potential employers, setting up fake interviews where they send malware disguised as Zoom “updates” or share sample test codes containing hidden viruses. These carefully planned strategies exploit trust during the recruitment process, turning job applications into high-risk situations for unsuspecting companies.
Customer Support Loopholes and Insider Threats are Leaving Crypto Exchanges Dangerously Exposed
Another concerning tactic highlighted by Changpeng Zhao involves hackers impersonating regular customers through support requests. They often share links that appear harmless but contain malware capable of compromising entire company systems once clicked. In addition to this, some groups prefer to bypass technical attacks altogether by bribing employees or contractors who already have direct access to internal data.
Changpeng Zhao mentioned a recent breach involving an Indian outsourcing provider, which exposed sensitive information from the U.S.-based crypto exchange and resulted in user losses of more than $400 million. These examples underscore how insider threats and vendor vulnerabilities can be just as damaging as front-end hacks.
Crypto Companies Must Strengthen Employee Training and Security Checks to Limit Future Risks
Changpeng Zhao called on all the players in the digital assets sector stressing the need for educate their workers on the risks of downloading strange files and trusting strange applicants. He suggested that companies in the sector take a more proactive approach on the need for basic background checks and take all instances of even minor suspicious behavior as a possible warning indicator.
His comments are in line with the constant alerts being made by cybersecurity specialists on how some state-sponsored entities, particularly North Korean ones, utilize captured cryptocurrencies as a means of supporting their nations. Every time there is a successful breach of security, the loss goes beyond just the private sector and also affects the global finances and relations between nations.
Much as the warning on security is meant to be more serious, Changpeng Zhao also does not lose the sense of humor, engaging the Binance community over the performance of their BNB. He even noted on the same day that, as someone who tracks Binance Coin, he rarely gets the news of the price changes from news articles or financial platforms but instead gets it from users on X.
Binance has also taken visible steps to reassure investors through institutional partnerships. In August, the exchange announced a collaboration with BBVA, one of Spain’s leading banks, allowing customers to store digital assets in a more traditional custody framework. This move reflects a wider industry shift aimed at restoring trust after major exchange collapses in recent years. By partnering with regulated banks, Binance hopes to reduce investor anxiety while reinforcing the importance of safer practices across the industry.
