North Korea's Lazarus Group Strikes Big with $240M Crypto Heist!

North Korea-affiliated Lazarus Group (indicted members pictured below) has pulled off cryptocurrency heists totaling a staggering $240 million since June 2023.

It’s crucial to understand that North Korea has leveraged cryptocurrency theft to bypass sanctions and fund its weapons programs. This illicit revenue source, combined with other nefarious activities, underscores the country’s determination to pursue its objectives.

The most recent saw the notorious hacking group suspected of orchestrating the theft of $31 million in digital assets from the CoinEx exchange on September 12, 2023. Successful hits on Atomic Wallet ($100 million), CoinsPaid ($37.3 million), Alphapo ($60 million), and Stake.com ($41 million).

Interestingly, some of the stolen funds from CoinEx found their way into an address previously linked to the Lazarus Group, indicating their involvement. The funds were cleverly routed through different blockchains and even Ethereum, demonstrating the group’s adaptability and evasion tactics.

Lazarus Group, along with other hacking outfits linked to North Korea, has been on a cyber rampage, targeting various sectors, from cryptocurrency businesses to software supply chains and open-source repositories. It’s important to note that they are targeting centrally serviced operations.

I have no doubts Lazarus group will continue to fund North Koreas hacking activities.