Coinbase CEO Brian Armstrong Announces Radical Changes to Our Operating Policy Due to North Korean Hackers! Here Are the Details

Crypto exchange Coinbase was known for its “remote-first” policy. However, CEO Brian Armstrong revealed that North Korean IT workers exploited this flexibility and attempted to infiltrate the company. Armstrong announced that the threat had escalated, forcing drastic changes.

Coinbase CEO Warns of North Korean Hacker: In-Person Orientation Becomes Mandatory

Armstrong said North Korean computer experts were aiming to gain access to sensitive systems by entering jobs at Coinbase. The FBI issued a similar warning in a report last month, which alleged that North Korean IT workers were generating revenue for the regime by working with companies in the US.

According to the FBI, these individuals, along with intermediaries within the US, were covering their tracks by submitting fake job applications, redirecting company computers, and even setting up front companies.

Coinbase's new policy requires all employees to attend an in-person orientation in the US. Furthermore, employees accessing sensitive systems must be US citizens and undergo fingerprint verification.

Armstrong emphasized that they ask candidates to turn on their cameras during the recruitment process, which prevents “AI-assisted fake interviews.”

The CEO also said there have been attempts at bribery within the company, with some individuals offering hundreds of thousands of dollars to customer service representatives. “We're warning employees, if they get caught, they're not just going to get kicked out, they're going to jail,” Armstrong said.

Coinbase plans to strengthen its US-based customer service through its new support center in Charlotte, North Carolina, along with new security measures to combat cyber threats.

*This is not investment advice.