Researchers set up a fake cryptocurrency startup "Ballena Azul" to lure suspected North Korean IT workers, successfully extracting key intelligence

According to Cointelegraph, Mauro Eldritch, the founder of cybersecurity company BCA LTD, and Heiner García, a network threat intelligence analyst at Telefónica Tech, jointly established a fake cryptocurrency startup "Ballena Azul," successfully luring suspected North Korean IT workers to work in a controlled virtual desktop environment for up to five weeks while monitoring their behavior throughout.

Investigations show that the external servers used by the workers are linked to North Korean cyber operations that previously distributed malware such as InvisibleFerret, BeaverTail, and OtterCookie; the workers also heavily relied on ChatGPT for programming assistance and Google Gemini to forge identity documents. Researchers pointed out that North Korean IT workers obtained remote jobs by faking U.S. identities, with their earnings ultimately flowing into Pyongyang's weapons of mass destruction programs. According to the U.S. Treasury Department, such programs are expected to generate nearly $800 million for North Korea in 2024.