The Daily Crypto Theft by North Korea’s Lazarus Group Amounts to Nearly $3 Million

The Daily Crypto Theft by North Korea's Lazarus Group Amounts to Nearly $3 Million


North Korea’s Lazarus Group Continues to Hack Crypto Worth Millions

A state-sponsored hacking group known as the Lazarus Group, believed to be based in North Korea, has been responsible for hacking crypto assets worth nearly $3 million per day over the past three months. In a span of 100 days since June 7, the group targeted five victims and stole a total of $293 million worth of cryptocurrencies. Since its first heists over a decade ago, the Lazarus Group has stolen more than $2 billion worth of crypto assets, according to blockchain analytics firm Elliptic.

Atomic Wallet: $100 Million Hack

The largest recent hack by the Lazarus Group occurred in June on Atomic Wallet, resulting in the loss of $100 million worth of crypto assets. Initially reported as a loss of $35 million, further investigation revealed that over 5,000 crypto wallets on the platform were compromised.

Alphapo: $60 Million Hack

In July, Alphapo, a centralized crypto payment provider for online platforms, fell victim to the Lazarus Group’s attack. The initial reported amount stolen was $23 million, but it was later discovered that an additional $37 million worth of TRON and BTC had been tracked.

CoinsPaid: At Least $37 Million Loss

Estonian crypto-payments service provider CoinsPaid suffered a loss of at least $37 million due to an attack by the hacker group. Although the attack was not as successful as expected by the Lazarus Group, CoinsPaid assured its customers that their funds were safe.

Stake.com: $41 Million Exploit

The FBI confirmed that the Lazarus Group orchestrated an attack against Stake.com, an online casino and betting platform, resulting in a $41 million loss. The attack targeted the platform’s funds on Ethereum, BNB Chain, Polygon, and Bitcoin networks.

CoinEx: Over $55 Million Stolen

In its most recent attack, the Lazarus Group targeted crypto exchange CoinEx, draining several wallets of various tokens including Bitcoin, Ethereum, TRX, Arbitrum, MATIC, and others. Initially reported as a $27 million loss, the amount has increased to over $55 million as more affected wallets have been identified.

Hot Take: North Korea’s Lazarus Group Continues to Pose a Serious Threat to Crypto Security

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The Lazarus Group’s ongoing hacking activities highlight the persistent threat posed by state-sponsored cybercriminals to the security of the cryptocurrency industry. With sophisticated tactics and extensive resources at their disposal, this notorious group has successfully targeted numerous victims and stolen millions of dollars’ worth of crypto assets. These attacks serve as a reminder for individuals and businesses operating in the crypto space to prioritize robust security measures and remain vigilant against potential threats. As the popularity and value of cryptocurrencies continue to rise, it is crucial to stay informed about the evolving landscape of cybercrime and take proactive steps to safeguard digital assets.

Author – Contributor at Lolacoin.org | Website

Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies. Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.