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Ryan Sean Adams

πŸ‘€ Speaker
4484 total appearances

Appearances Over Time

Podcast Appearances

Bankless
Why North Korea Is Winning Crypto Crime and How to Fight Back | Ari Redbord, TRM Labs

Their groups, their hacking groups are hunting and stalking high value targets.

Bankless
Why North Korea Is Winning Crypto Crime and How to Fight Back | Ari Redbord, TRM Labs

So again, 76% of the value from two targets, they were hunting the drift protocol for months.

Bankless
Why North Korea Is Winning Crypto Crime and How to Fight Back | Ari Redbord, TRM Labs

Can we talk about

Bankless
Why North Korea Is Winning Crypto Crime and How to Fight Back | Ari Redbord, TRM Labs

the means that they went through in order to pick out the drift protocol.

Bankless
Why North Korea Is Winning Crypto Crime and How to Fight Back | Ari Redbord, TRM Labs

It seems like North Korea is hunting and assassinating almost individual high-value targets in a very methodical, sophisticated way.

Bankless
Why North Korea Is Winning Crypto Crime and How to Fight Back | Ari Redbord, TRM Labs

Tell us about this case.

Bankless
Why North Korea Is Winning Crypto Crime and How to Fight Back | Ari Redbord, TRM Labs

That's what's so unnerving about this case, actually, is because many of the people listening, many people in crypto, they go to conferences, they think they know people in the crypto space in real life.

Bankless
Why North Korea Is Winning Crypto Crime and How to Fight Back | Ari Redbord, TRM Labs

And you wrote this, this was a line from Coindesk, North Korean proxy sitting across a table from protocol employees over a period of months.

Bankless
Why North Korea Is Winning Crypto Crime and How to Fight Back | Ari Redbord, TRM Labs

We're talking about the drift hack.

Bankless
Why North Korea Is Winning Crypto Crime and How to Fight Back | Ari Redbord, TRM Labs

That is, to my knowledge, unprecedented.

Bankless
Why North Korea Is Winning Crypto Crime and How to Fight Back | Ari Redbord, TRM Labs

So they met some of the drift team members at conferences, a

Bankless
Why North Korea Is Winning Crypto Crime and How to Fight Back | Ari Redbord, TRM Labs

So, okay, so they met.

Bankless
Why North Korea Is Winning Crypto Crime and How to Fight Back | Ari Redbord, TRM Labs

I just can't get over meeting them in person because I always think of kind of North Korea, Lazarus Group as just their offshore, the actual shadowy super coders out there.

Bankless
Why North Korea Is Winning Crypto Crime and How to Fight Back | Ari Redbord, TRM Labs

They don't manifest in real life.

Bankless
Why North Korea Is Winning Crypto Crime and How to Fight Back | Ari Redbord, TRM Labs

But you're saying they were hiring proxies?

Bankless
Why North Korea Is Winning Crypto Crime and How to Fight Back | Ari Redbord, TRM Labs

I guess, paid actors, individuals who didn't seem like they were from North Korea, maybe seemed westernized in some way.

Bankless
Why North Korea Is Winning Crypto Crime and How to Fight Back | Ari Redbord, TRM Labs

Can you talk about how the social engineering actually led to one of the largest hacks, I think the largest hack on Solana in the drift case?

Bankless
Why North Korea Is Winning Crypto Crime and How to Fight Back | Ari Redbord, TRM Labs

So what were the further details there in that story?

Bankless
Why North Korea Is Winning Crypto Crime and How to Fight Back | Ari Redbord, TRM Labs

So this turned into a hack of $285 million, I believe.

Bankless
Why North Korea Is Winning Crypto Crime and How to Fight Back | Ari Redbord, TRM Labs

And this was a drain that lasted just for 12 minutes and then it was kind of over.