Cryptocurrency Confidence Crisis – “Kim Jong Un Test” Reveals Secret Moles in North Korea


Amid another major hack attributed to agents linked to North Korea, some cryptocurrency makers have admitted that they pass checks during interviews with developers to ensure they are not agents of North Korea.

Kim Jong-un’s Anti-Scam Test for Cryptocurrency Developers

Once again, the Democratic People’s Republic of Korea is responsible for some action-movie-like moves.

After attribution April 1: $285 million attack on Drift Protocol To UNC4736, a North Korean-allied and state-sponsored hacking group, several cryptocurrency industry actors took to the social network

All details on the long-term social engineering, fake professional personas, in-person conference meetings, and hacked tools used in the attack can be found at Yesterday’s article on our sister site Bitcoinist.

It may seem unbelievable and ridiculous, but the most obvious strategy some of these builders have found is to ask candidates to explicitly insult Kim Jong Un, the head of the North Korean regime, during interviews.

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Cryptocurrency creators share the guide

Yesterday, Tanuki42, an independent blockchain security investigator, shared a real video of “a North Korean IT worker who was stopped dead in his tracks when asked to insult Kim Jong Un.”

In the video, Taro Ikuchi was not only unable to repeat after the interview that “Kim Jong Un is a fat, ugly pig,” but was surprised and visibly nervous.

In a different video shared by the security investigator, Taro amusingly tells him that he “knows North Korea very well,” but then has very comfortable communication problems when asked to say, “Fuck Kim Jong Un.”

Later in the thread, Tanuki42 showed that the candidate changed his Telegram account, deleted the chat and blocked him after the interview.

His X account and LinkedIn page also disappeared.

Cryptocurrency investor and fund manager Jason Choi quoted Tanuki42 to reiterate the message, claiming that a lot of crypto founders have told him that this test works.

Crypto founder and RWA-focused builder Pav responded to Choi saying he was using the tactic in 2024, after… He discovered that he was interviewing with a DPRK agent for an engineering position in 2022.

Simon Wickmans, another cybersecurity founder and product lead, also responded to Choi sharing a clip from one of his own interviews with the William Nation candidate, who failed to say Kim Jong Un is a dictator after being asked to do so by Wiekmans.

Some cryptocurrency creators remain skeptical

Despite the overwhelming evidence, the absurdity of the story continues to find non-believers stunned.

In a different thread a few days ago, Paolo Caversaccio, a Swiss-based engineer and entrepreneur focused on encryption, privacy, and security, shared one of his attempts to use the same insult tactic on Kim Jong Un to make sure he’s not working with North Korean spies.

He then got into an argument with long-time Ethereum developer and founder, Mika Zolto, regarding the actual effectiveness of this technology. But Caversaccio’s argument was convincing: he has been dealing with IT workers in the DPRK for more than three years.

Market effects

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The real deal for traders right now is not to guess the next picture, but to determine which teams can defend against nation-state attackers.

For some time now, cryptocurrencies have entered a phase where geopolitics, state-sponsored cyber operations, and human resources compliance have become as important as code audits. North Korean infiltration risks are now a structuring factor for the industry.

Given this, traders should remember that protocols with weak shareholder vetting, ambiguous multi-signatures, or ad hoc governance represent high tail risks that markets will increasingly price out.

It is also advisable to look for projects that can demonstrate stronger operational security, incident response, and KYC for critical roles that may have relatively stronger valuations and a more consistent TVL.

Bitcoin, Bitcoin, BitcoinUSDT

At the moment of writing, BTC trades for around $68k on the daily chart. Source: BTCUSDT on Tradingview.

Cover image by Perplexity. BTCUSDT chart from Tradingview.





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