A Fisker remote IT employee, Kou Thao, was identified as a covert agent for North Korea. He was involved in an elaborate money laundering scheme targeting the automotive industry.
Documents from the U.S. Department of Justice revealed that Thao, hired by Fisker in October 2021, used a fraudulent Arizona address connected to another conspirator, Christina Chapman, who set up laptops to give North Korean operatives remote access via networks in Russia and China.
Fisker terminated Thao in September 2023 after being alerted to the scheme by the Justice Department.
The financial fallout from this espionage may have contributed to Fisker’s bankruptcy filing in June 2024, just nine months after Thao’s dismissal.
Fisker, was not the only automaker impacted by this scheme, which also targeted other major American automotive manufacturers.
According to Justice Department records, Chapman conspired with another contractor, identified only as “Frank C.,” employed by a Detroit-based Fortune 500 automaker in April 2022. While the automaker’s identity is undisclosed, both General Motors and Ford Motor Company are “Detroit-based.”.
Reports from The Wall Street Journal indicate that North Korean spies have been infiltrating U.S. companies through IT roles, often in low-level positions. This tactic gives North Korea access to both cash and intellectual property.
Fisker CEO Henrik Fisker didn’t comment on the matter, citing the ongoing FBI investigation.
The FBI has issued warnings about North Korean spies in the finance and crypto sectors.
North Korea’s cyber actors are running sophisticated, hard-to-detect social engineering campaigns targeting employees in decentralized finance (DeFi) and cryptocurrency sectors to deploy malware and steal digital assets. These attacks are complex and can compromise even well-prepared cybersecurity professionals.
Recent intelligence suggests North Korean actors are specifically researching targets connected to cryptocurrency exchange-traded funds (ETFs), signaling a threat to companies involved with large cryptocurrency holdings. The FBI highlights North Korea as a persistent, highly capable threat to organizations in the cryptocurrency space.