5th May 2026 > > A classic scam & North Korea.
- 2 hours ago
- 2 min read
tl;dr
A classic crypto scam that is worth a minute or two to understand. North Korea is almost always to blame.
Market Snap
Market Wrap
I have been telling all and sundry that if we breach $81k to the upside then it is game on. That happened earlier today, but of course I couldn’t possibly repeat such a claim in a public forum such as this for the crypto gods would make sure I ended up looking very foolish.
Curious Cryptos’ Commentary – Classic scam
You can always spot the scam emails a mile off:
That Start account recovery” button is such a massive red flag. But let’s click on it anyway:
I guess I did “request this account recovery” so let’s click “Yes, it’s me”:
Now we see the scam. Inputting your seed phrase into any website is never the wisest move. But let’s do it anyway:
I wish that was my seed phrase … immediately afterwards, you are taken to the real Blockchain.com website, which is a nice touch, giving the feral scammers enough time to ensure they have stolen your BTC:
It is a state-funded scam, probably North Korean but could be Russian. Maybe Chinese, but they tend to be a bit more sophisticated.
Curious Cryptos’ Commentary – North Korea
TRM Labs pins the blame for crypto scams firmly on North Korea and its portly, murderous leader Kim Yong Un, often with help from Chinese facilitators:
TRM Labs claim the North Korea is responsible for 76% of all crypto losses in 2026 to date with a focus on a small number of attacks yielding large amounts of value. That continues a trend in which Pyongyang’s share of global crypto theft has risen from about 22% in 2022 to well over 70% this year, with total takings since 2017 now estimated above 6 billion dollars.
The North Korean propaganda team have responded in typically floral fashion:
(Note: that link is not secure so please ensure your anti-virus software is up to date and running).
I love this line:
“Recently, the U.S. government organs, reptile media organs and plot-breeding organizations are trying to spread incorrect understanding of the DPRK to the international community, talking about the non-existent "cyber threat" from the DPRK.”
Conspiracy theorists worldwide will recognise those sentiments.
And this one:
“The DPRK will never tolerate the hostile forces' attempt at confrontation getting more undisguised in various domains including cyber space, but actively take all necessary measures for defending the interests of the state and protecting the rights and interests of its citizens.”
It is news to most of North Korean citizens that the state either defends their interests or protects their rights.
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