North Korean Hackers Steal $240M in Crypto Assets in 104 Days
In a recent report, it has been revealed that the notorious North Korean hacking group, Lazarus, is responsible for stealing approximately $240 million worth of crypto assets over the last 104 days. This revelation comes from blockchain surveillance firm Elliptic, which has been closely monitoring the activities of the hacking group.
According to Elliptic’s findings, Lazarus targeted several platforms during their spree. The crypto assets were stolen from Atomic Wallet, CoinsPaid, Alphapo, and Stake.com. The largest amount stolen was from Atomic Wallet, totaling $100 million. CoinsPaid suffered losses amounting to $37.3 million, while Alphapo lost $60 million and Stake.com was hit with a theft of $41 million.
This is not the first time that the Lazarus group has been linked to major cryptocurrency hacks. In the past three months alone, they have been connected to five significant breaches. The most recent attack targeted the global cryptocurrency exchange, CoinEx, where an estimated $53 million was stolen. However, CoinEx has stated that they are still in the process of determining the exact amount taken, and initial findings suggest it could be around $70 million.
Elliptic’s analysis revealed that funds stolen from CoinEx were sent to an address previously used by the Lazarus group to launder money stolen from Stake.com, a cryptocurrency casino supported by Drake. The hacker initially transferred the stolen funds to Ethereum via a bridge previously utilized by Lazarus. They then moved the funds to a wallet address known to be under their control. The majority of the stolen funds were taken from the Tron and Polygon blockchains.
The researchers at Elliptic corroborated their findings with those of ZachXBT, an on-chain investigator, who discovered that the CoinEx hacker had unintentionally linked their address to the Stake hack. Address similarities were also found between the Stake hack and the $100 million Atomic Wallet hack.
As a result of these findings, Elliptic believes that the Lazarus group should be suspected of orchestrating the CoinEx theft. The hacking group has also been implicated in other recent hacks, including the ones targeting CoinsPaid and Alphapo.
The increasing frequency and scale of these cyberattacks have raised concerns about the security of cryptocurrency platforms. Investors and traders are urged to remain vigilant and take appropriate precautions to protect their crypto assets. Industry stakeholders are working tirelessly to enhance security measures and mitigate the risks posed by cybercriminals.
In conclusion, the Lazarus group’s recent spree of crypto asset thefts has underscored the need for improved security measures within the cryptocurrency industry. As hackers become more sophisticated in their techniques, it is crucial for platforms to strengthen their defenses and for users to exercise caution when conducting transactions. The ongoing efforts to combat cybercrime in the crypto sphere will be instrumental in safeguarding the investments of millions of cryptocurrency users worldwide.
