North Korea Threat Group Targeting Turkish Financial Orgs

Hidden Cobra appears to be collecting information for a later strike, McAfee says.

Hidden Cobra, a threat group that the US government previously has linked to North Korea, appears to have turned its sights on financial institutions in Turkey.
Security vendor McAfee Thursday
reported
finding malware associated with the group surfacing on systems belonging to three large financial organizations and at least two major government-controlled entities involved in finance and trade in Turkey.
The malware, dubbed Bankshot, was last seen in 2017 and is designed to persist on compromised systems for further exploits. Its presence on the systems in Turkey suggests the Hidden Cobra operation is intended to gather specific information that can be used to launch more damaging attacks later, McAfee said.
While we cant definitively establish motivations, its likely these attacks are part of an ongoing effort on the part of the attackers to compromise major financial institutions, says Ryan Sherstobitoff, McAfees senior analyst of major campaigns. The goal could be to surveil their operations, establish functions of their processes, and ultimately compromise funds, he says.
Hidden Cobra, also referred to as the Lazarus Group and Guardians of Peace, is believed responsible for the attacks on the SWIFT financial network in 2016 that resulted in over $80 million being looted from the Bangladesh Bank. It has also been linked to numerous other attacks on media, aerospace, and critical infrastructure organizations in recent years.
The FBI and the US Department of Homeland Security have
described
the group as being sponsored by the North Korean government and having a wide array of attack tools at its disposal, including distributed denial-of-service botnets, wiper malware, and remote access Trojans. Tools associated with the group include Destover, a wiper malware used in the 2014 attacks on Sony Pictures, and Hangman, a malware used in targeted attacks.
Bankshot, the groups tool of choice in the Turkey campaign, was previously used in a major Korean bank attack and has been seen on documents purportedly from banks in Latin America.
McAfees investigation shows that the Bankshot implants that Hidden Cobra is using in its campaign against Turkish financial institutions were distributed via sophisticated phishing emails. The emails have contained a malicious Word document with an embedded exploit for a recently disclosed Adobe Flash vulnerability.
The exploit basically allows an attacker to execute arbitrary code — Bankshot, in this case — on compromised systems. Available telemetry shows that that first infections in Turkey happened around March 2 and March 3, McAfee said.
Sherstobitoff says this is the first time McAfee has observed Hidden Cobra deploying Bankshot in Turkey. It is also the first time that McAfee has seen an entire countrys financial system being targeted so systematically.
Bankshot is a fully capable implant which grants attackers full capability on a victims system. It is possible the attackers are in an early data-gathering stage for future heists, he says. In addition to stealing data, Bankshot also has a function to wipe files that can be remotely executed to erase evidence he says.
North Korea threat actors have been linked to a recent string of attacks — including numerous cryptocurrency mining campaigns and ransomware campaigns such as WannaCry. Many believe the campaigns are state sponsored and are likely designed to raise money for a government under increasing economic pressure from sanctions.
There are some, though, who believe that at least some of the attacks have involved false-flag campaigns. The most notable example is an attack on networks and servers during the opening of the Winter Olympics in South Korea that originally appeared to be the handiwork of North Korea but which many believe actually originated in Russia.
According to Sherstobitoff, however, there appears to be little doubt about who is behind the campaign in Turkey. McAfee takes attribution very seriously. As such, McAfee Advanced Threat Research analysis and conclusions are based on multiple indicators, he says.
While 100% attribution is always going to be hard, the code and target similarities between the malicious files uncovered in this campaign and earlier attacks publicly attributed to Hidden Cobra are strong indicators of North Korean involvement, he says.
Related Content:
North Korean APT Group Employed Rare Zero-Day Attack
North Korea-Linked Cyberattacks Spread Out of Control: Report
Threats from Russia, North Korea Loom as Geopolitics Spills into Cyber Realm
Cybercrime and Hacking Atlas

Black Hat Asia returns to Singapore with hands-on technical Trainings, cutting-edge Briefings, Arsenal open-source tool demonstrations, top-tier solutions and service providers in the Business Hall. Click for information on the
conference
and
to register.

Last News
▸ ArcSight prepares for future at user conference post HP acquisition. ◂ Discovered: 07/01/2025 Category: security	▸ Samsung Epic 4G: First To Use Media Hub ◂ Discovered: 07/01/2025 Category: security	▸ Many third-party software fails security tests ◂ Discovered: 07/01/2025 Category: security

**Cyber Security Categories**
Google Dorks Database	Exploits Vulnerability	Exploit Shellcodes

CVE List

Tools/Apps

News/Aarticles

Phishing Database

Deepfake Detection

Trends/Statistics & Live Infos

Tags:
North Korea Threat Group Targeting Turkish Financial Orgs