North Korea’s Lazarus Group Linked to $270 Million in Crypto Hacks
Recent investigations have revealed that North Korea’s Lazarus Group, a notorious hacking group, is responsible for a series of high-profile crypto hacks. Over the past 102 days, the group has stolen more than $270 million from major crypto platforms. MetaMask’s lead product manager, Taylor Mohana, and blockchain sleuth ZachXBT compiled a list of the four recent massive hacks to shed light on this alarming trend.
The CoinEx Hack and Lazarus Group
One of the most recent hacks targeted CoinEx, a crypto exchange. Initially, $27.8 million was reported stolen from CoinEx’s hot wallets. However, industry experts later discovered that the stolen assets amounted to $54 million. Following the incident, ZachXBT and SlowMist, a blockchain security company, confirmed that the hack was carried out by the Lazarus Group.
Other Hacks Attributed to Lazarus Group
In addition to the CoinEx hack, Lazarus Group is also responsible for other major crypto hacks. In September, they targeted leading crypto casino platform Stake and stole up to $41 million in various cryptocurrencies. The FBI confirmed their involvement in this hack. In July, CoinsPaid, a crypto payments resource, suffered an attack resulting in $37 million in stolen funds. Another victim was Alphapo, a payment platform that lost $23 million in crypto assets. The largest hack attributed to the Lazarus Group occurred in June when over $115 million was stolen from Atomic Wallet.
Hot Take: North Korea’s Lazarus Group Continues to Pose Threats to Crypto Security
The recent wave of crypto hacks linked to North Korea’s Lazarus Group highlights the ongoing threat posed by this notorious hacking group. With millions of dollars stolen from major crypto platforms, it is crucial for individuals and organizations in the crypto space to prioritize security measures. Implementing robust security protocols and staying informed about the latest hacking techniques can help mitigate risks and protect valuable assets. Additionally, collaborations between industry experts, law enforcement agencies, and cybersecurity firms are essential in combating these sophisticated cyber threats.
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