North Korean Hackers Stole $400 Million in Crypto via Fake Video Calls

US authorities allege that North Korean state-sponsored hackers have stolen over $400 million in cryptocurrency by deceiving more than 900 people through fake video calls over the past 18 months. According to a BBC report, this method, dubbed "FaceStealer" by the FBI, specifically targets professionals working in the cryptocurrency and Web3 sectors, particularly those developing open-source software. Details shared by the FBI and the US Department of Justice reveal that the fraud chain proceeds step by step. Hackers invite victims to video calls on fake versions of Zoom, Microsoft Teams, and Google Meet via compromised or impersonated social media accounts. When the call begins, a pre-recorded video of someone the victim knows in real life is played on screen, but it is deliberately made to appear as if there is an audio problem. At that moment, a warning appears on screen asking the user to click a link to fix the audio. Clicking the link allows malware to infiltrate the device, gaining access to contacts and applications. The hackers secretly record these fake calls to obtain new video material to deceive their next victims. This disclosure comes just a week after Binance, the world's largest cryptocurrency exchange, announced it had suffered a record cyberattack of $6.3 billion through fake job interviews. US law enforcement also holds North Korea-linked groups responsible for what is considered the largest crypto heist in history, while the Pyongyang regime denies the allegations. Brett Leatherman, FBI Cyber Director, noted that the North Korean regime has stolen billions of dollars in cryptocurrency in recent years to finance its illegal weapons programs. Patrick Grandy, Assistant Director in Charge of the FBI Los Angeles Field Office, summarized the danger of the method: "This attack exploits the video conferencing platforms and personal relationships we trust in daily life. It is effective enough to deceive even the most experienced and security-conscious users. If you can't imagine a scenario where you could fall into this trap, you're not thinking creatively enough." Not investment advice.