FBI Says North Korean Hackers Stole More Than $400 Million in Crypto Through Fake Video Calls

North Korean hackers used fake video calls to steal large amounts of cryptocurrency, the BBC reported on November 13, citing the Federal Bureau of Investigation.

The FBI said North Korean hackers used a tactic known as "FaceStealer" over the past 18 months to steal crypto from more than 900 victims. The haul totaled more than $400 million.

FaceStealer is a hacking method that lures victims into fake video calls by impersonating someone they know. The hackers hijacked social media accounts and then steered targets into sham meetings posing as Zoom, Microsoft Teams and Google Meet.

They then showed pre-recorded video of an acquaintance to make the call appear legitimate. The attackers staged what appeared to be an audio problem and prompted the victim to install malware.

Once the malware was installed, the attackers gained access to the victim's contacts and applications. That allowed them to identify additional targets for follow-on attacks.

The FBI said the tactic is heavily targeting people working in the cryptocurrency and Web3 industries, especially open-source software developers.

Brett Leatherman, the FBI's top cyber official, said North Korea is carrying out large-scale crypto thefts to fund its illicit weapons program. He added that the country has stolen billions of dollars in recent years.