BlackRock’s $62 billion Bitcoin ETF flagged as potential North Korean hacker target

Yishi Wang, founder of crypto wallet manufacturer OneKey, has warned that BlackRock’s $62 billion iShares Bitcoin Trust could become a target for North Korean hacking groups. The alert follows a high-profile $6 billion hack at Binance, which US authorities attributed to North Korea’s TraderTraitor cybercrime group. Wang stated, “I suspect [the fund] is already on North Korea’s shortlist.” His remarks have brought renewed scrutiny to how BlackRock, the world’s largest asset manager, safeguards its sizable digital holdings. Coinbase, a leading US-based crypto exchange, serves as the primary Bitcoin custodian for BlackRock’s spot ETF. A CryptoSlate report from April showed that more than 80% of US Bitcoin ETF assets are managed by funds using Coinbase as their custodian.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to CoinTurk News.