A North Korean IT specialist was employed by Fisker for a year, causing further turmoil for the company
Fisker Inc. Hires North Korean Spy, Suffers No Known Cyber Espionage Impact
Fisker Inc., an electric carmaker based in Manhattan Beach, found itself at the centre of an unexpected scandal in 2021. The company inadvertently hired a North Korean spy named Kou Thao, who was working covertly for the rogue nation. However, it's important to clarify that, according to available evidence, Fisker Inc. was not impacted by North Korean cyber espionage.
The search results do not link any cyber attacks on Fisker to North Korea, and there are no reports suggesting financial fallout due to such an incident. Instead, the information pertaining to Fisker in the search results relates to a vehicle recall related to a battery defect involving A123 Systems and its bankruptcy history, neither of which involve cyber espionage or North Korea.
The FBI has issued warnings about North Korean spies infiltrating U.S. companies, particularly in the finance and cryptocurrency sectors. These attacks are complex and can compromise even well-prepared cybersecurity professionals. North Korean spies have been known to gain access to both cash and intellectual property through IT roles in low-level positions.
Recent intelligence suggests North Korean actors are specifically researching targets connected to cryptocurrency exchange-traded funds (ETFs), signalling a potential threat to companies involved with large cryptocurrency holdings.
In a related development, Thao was involved in an elaborate money laundering scheme targeting the automotive industry. He conspired with another contractor, "Frank C.", employed by a Detroit-based Fortune 500 automaker in April 2022. Thao used a fraudulent Arizona address connected to another conspirator, Christina Chapman, to set up laptops for North Korean operatives to access networks in Russia and China.
Fisker terminated Thao's employment in September 2023 after being alerted to the scheme by the U.S. Department of Justice. The identity of the Detroit-based automaker where "Frank C." worked remains undisclosed, but both General Motors and Ford Motor Company are Detroit-based.
It's worth noting that Fisker was not the only automaker impacted by this scheme. The FBI highlights North Korea as a persistent, highly capable threat to organizations in the cryptocurrency space, and companies must remain vigilant to protect their assets and intellectual property.
As of now, Fisker CEO Henrik Fisker has not commented on the matter, citing the ongoing FBI investigation. The financial fallout from this espionage may have contributed to Fisker's bankruptcy filing in June 2024, nine months after Thao's dismissal. However, this connection is yet to be definitively proven.
The FBI has warned about North Korean spies infiltrating U.S. companies, especially those in the finance, cryptocurrency, and technology sectors. Fisker Inc., despite not being affected by North Korean cyber espionage as reported earlier, faced a crime-and-justice scandal involving a North Korean spy, Kou Thao, who was involved in an elaborate money laundering scheme targeting the automotive industry.
