Lazarus Group: North Korean Hackers Amass Millions in TRON
Recent on-chain data reveals that the Lazarus Group, a hacking collective sponsored by North Korea, has become a major holder of the cryptocurrency TRON (TRX). The CoinEx Drainer, believed to be controlled by the group, currently holds over 137 million TRX valued at approximately $11.63 million. This accounts for 0.154% of the total TRON supply, making it the 66th largest holder of TRX. In addition to TRX, the Lazarus Group holds significant amounts of Bitcoin and stablecoins like Binance USD (BUSD).
The Lazarus Group was responsible for a recent hack on the CoinEx exchange that resulted in a loss of around $55 million, with a portion of it being in TRX. Despite this incident, TRX has seen an 8% increase in value over the past two weeks and is currently trading at $0.084.
Lazarus Group’s Crypto Holdings and Hacking Tactics
According to Dune Analytics, the Lazarus Group’s total crypto assets are worth $45.8 million, with holdings peaking at over $80 million earlier this year. The group has been involved in various hacking incidents, including stealing nearly $200 million from Atomic Wallet, Alphapo, and CoinsPaid.
Researchers have found evidence suggesting that the Lazarus Group uses its illicitly gained crypto funds to support North Korea’s missile program. The group has been known to target centralized crypto providers through sophisticated phishing attacks using social engineering tactics.
Hot Take: Lazarus Group Expands Crypto Holdings and Hacking Activities
The Lazarus Group, sponsored by North Korea, has become a significant holder of TRON and other cryptocurrencies. Its recent hack on the CoinEx exchange resulted in a loss of $55 million, with TRX being one of the targeted tokens. Despite these incidents, TRX has seen an increase in value. The group’s total crypto assets are valued at $45.8 million, and it has been involved in various high-profile hacking incidents. Researchers believe that the Lazarus Group uses its ill-gotten gains to support North Korea’s missile program. The group employs sophisticated phishing attacks and social engineering tactics to target centralized crypto providers.
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