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- Crypto firms face attacks as hackers use fake jobs, recruiter scams, and malware hidden in coding tests.
- Hackers exploit support tickets and outsourcing partners to steal IDs, banking data, and account details.
- $2.17B in crypto was lost in 2025, including $1.5B from Bybit, as attacks on exchanges continue to escalate.
North Korean hackers are increasing their focus on the cryptocurrency sector. The founder of Binance, Changpeng Zhao, has disclosed that different groups are employing sophisticated intrusion techniques to steal both data and money. They are aimed at exchanges, blockchain firms, and outsourcing providers. Their intention is obvious: to log into sensitive systems and drain millions of wallets and accounts.
According to Zhao, the hackers were patient and creative. He claimed that they usually masquerade as candidates for job developer, finance, or security. Once employed, they become insiders. In case of the rejection, they move on to pretending to be recruiters. In this way, they attack the current staff with fake job opportunities. Both strategies use the trust to circumvent corporate security.
Hackers Use Fake Updates and Coding Tests to Breach Systems
Among the approaches that Zhao outlined are bogus Zoom updates during interviews. Hackers allege that the software has an issue and provide a link. Those victims who update without prior knowledge load malware. The other strategy is the use of coding tests. These look regular and have concealed instructions that allow hackers to gain control over devices.
According to Zhao, such schemes are reminiscent of previous attacks. Once, well-known Chollima made use of bogus job ads to deliver malware. A different campaign promoted a program under the name as JSCEAL pretending to be a trusted crypto program. After installation, it opened remote control access points. These two cases demonstrate the combination of social engineering and technical attacks.
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Customer service systems are also a weak point. Hackers impersonate users who are seeking help. Hackers place links in the tickets that, on clicking them, infect devices. Zhao cautioned that this method has misled a large number of employees, allowing the attackers to infiltrate without any alarm.
Crypto Sector Faces Billions in Losses Amid Rising Hacker Attacks
He cited also a significant violation with an outsourcing partner in India. Although Zhao did not identify the exchange, online speculation connected the case with Coinbase. In May 2025, Coinbase disclosed it was a victim of a massive hack associated with compromised customer service employees. Hackers gained access to identification numbers, banking information, and account passwords.
This breach caused more than $400 million in losses. Sequoia Capital partner Roelof Botha was a high-profile victim. Potential exposure is also a warning that was given to Coinbase users. Chainalysis data shows that $2.17 billion will have been stolen by crypto companies in 2025. The biggest single theft is the Bybit hack, which cost a total of $1.5 billion.
The cautious statement by Zhao highlights the increasing threats to the crypto sector. Hackers are perfecting traditional strategies and taking advantage of weak areas in recruitment, outsourcing, and support. Companies are under increasing pressure to improve security as the government-led campaigns become faster.
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