FBI Connects North Korea’s Lazarus Group to $41 Million Stake Hack

FBI Connects North Korea’s Lazarus Group to $41 Million Stake Hack

The FBI Attributes Stake Hack to Lazarus Group

The United States Federal Bureau of Investigations (FBI) has identified the Lazarus Group, a North Korea-sponsored hacking syndicate, as the perpetrator behind the recent attack on the digital currency sports betting and casino platform, Stake. The hack resulted in a loss of over $41 Million in cryptocurrency assets for the gambling firm.

Lazarus Group’s Engagement in Stake Hack Confirmed

The FBI conducted an investigation into the Stake hack and revealed that the Lazarus Group was in charge of the attack. The agency provided a list of digital currency wallet addresses where the stolen funds were sent. The FBI urged private sector entities to review the cyber security advisory on TraderTraitor and remain vigilant against transactions involving those addresses.

Continued Attacks by Lazarus Group

Lazarus Group has been linked to numerous major hacks in the cryptocurrency industry. According to the FBI, the North Korean hackers have stolen approximately $200 Million in digital currencies in 2023 alone. Previous targets include Estonian cryptocurrency payments platform CoinPaid, which experienced a $37.3 Million theft in July. The FBI had previously warned about Lazarus Group’s possible sale of 1,580 Bitcoin held in 6 different Bitcoin (BTC) wallet addresses.

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Hot Take

The identification of Lazarus Group as the perpetrator behind the Stake hack outlines the ongoing threat of cyber attacks on cryptocurrency platforms. It is critical for individuals and organizations to prioritize strong cybersecurity measures to safeguard their digital assets. The involvement of state-sponsored hacking groups like Lazarus Group underscores the need for international participation and collaboration to combat cybercrime in the cryptocurrency space.

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Owen Patter is a distinguished crypto analyst, accomplished researcher, and skilled editor, leaving a notable imprint on the cryptocurrency landscape. As a proficient crypto analyst and researcher, Owen delves into the intricate realms of digital assets, offering insights that resonate with a diverse audience. His analytical acuity is harmoniously paired with adept editorial skills, allowing him to transform complex crypto information into easily comprehensible content.

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