North Korea-linked hackers have been making headlines with their escalating attacks on decentralized finance (DeFi) platforms. In just over two weeks, they have siphoned off more than $500 million from the Drift and Kelp exploits, raising concerns about the security of the crypto ecosystem.
The attacks are not isolated incidents but rather a coordinated campaign, according to security experts. This suggests that the hackers are targeting systemic vulnerabilities embedded in cross-chain and restaking protocols, rather than relying solely on social engineering tactics.
One of the key weaknesses exploited by the hackers is the reliance on a single verifier in Kelp's protocol. This removed a critical safeguard, allowing attackers to approve fraudulent transactions and trigger cascading losses across interconnected platforms such as lending protocols.