Unicoin, a prominent cryptocurrency company, recently informed the SEC about a significant security breach that left its employees locked out of the company’s systems for nearly four days. The attack, which began on August 9, saw a hacker gain access to Unicoin’s Google G-Suite account, subsequently changing the passwords of all users with “@unicoin.com” email addresses, effectively blocking access to critical company systems such as Gmail and Google Drive.
By August 13, Unicoin officials managed to regain control of the G-Suite accounts and restore access for their employees. However, the company is still investigating the extent of the breach to understand the full impact and identify the perpetrator.
While no digital assets or funds appear to have been stolen, Unicoin did discover discrepancies in the personal data of employees and contractors within its accounting department after regaining access. Additionally, traces of hacked messages and compromised email accounts belonging to certain managers were found. The company has yet to determine if the incident will have any financial repercussions.
Unicoin, one of the few cryptocurrency firms that regularly reports to the SEC, has raised over $500 million through the sale of its unicoins, which are backed by a portfolio of assets, including real estate and equity in other companies.
During the investigation, Unicoin uncovered that one of its contractors had forged their identity, leading to the termination of that individual’s access and position. However, Unicoin has not commented on whether this incident is related to the ongoing issue of cryptocurrency companies inadvertently hiring hackers associated with the North Korean government.
In recent years, U.S. officials have warned that North Korea has intensified its efforts to place hackers within U.S.-based tech companies, either to earn legitimate paychecks that are sent back to North Korea or to leverage their access for cyberattacks. Two weeks ago, the cybersecurity firm KnowBe4 admitted it had unknowingly hired a worker connected to this North Korean scheme. U.S. law enforcement has also dismantled multiple “laptop farms” across the country used to facilitate North Korean employment efforts.
The United Nations is currently investigating 58 cyberattacks on cryptocurrency companies, allegedly carried out by North Korean hackers, which have reportedly netted the attackers around $3 billion over six years. Blockchain security firm Chainalysis recently reported that the first half of 2024 alone saw nearly $1.6 billion stolen in attacks on cryptocurrency companies, with the majority linked to North Korean actors.
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