According to Michael Pearl, the vice president of GTM strategy at onchain security company Cyvers, North Korean hackers, including the notorious Lazarus Group, may shift their focus towards larger targets, such as United States-based Bitcoin exchange-traded funds (ETFs).
This is due to the potentially significant rewards they could obtain from targeting these ETFs, as demonstrated by their involvement in the $625 million Ronin bridge hack, which is considered the biggest hack in the decentralized finance industry.
The FBI has also recently issued a warning about North Korean hackers attempting to steal money from ETFs, prompting concern and vigilance from investment companies.
Given that ETFs store Bitcoin, Pearl believes that hackers are already planning strategies to steal these funds.
