North Korea Linked to Onchain Malware Surge as CoinEx Shuts Down

WHY IT MATTERS

Think of onchain malware as malicious software that targets or lives on blockchain networks — the digital ledgers that record cryptocurrency transactions. Just as traditional computer viruses can steal your bank information, onchain malware can be designed to steal cryptocurrency or trick users into sending funds to attackers. North Korea has been accused of using these kinds of attacks as a way to generate revenue, which makes the crypto ecosystem a target for state-level hacking. When an exchange like CoinEx shuts down, it can affect users who held funds on the platform, similar to a bank closing its doors. This is why security experts often advise keeping cryptocurrency in personal wallets rather than leaving it on exchanges, since exchanges can be hacked or cease operations.