Lazarus, North Korea Hacking Group Stole $571 Million in Crypto Attacks

Lazarus, North Korea Hacking Group Stole $571 Million in Crypto Attacks

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October 22, 2018 by Jane
1210
North Korean hacker crew dubbed “Lazarus Group” has reportedly stolen $571 million in crypto assets since 2017, and is allegedly the most ‘successful’ crypto hacker organization ever. A study conducted by cybercrime company Group-IB reveals. Group-IB is one of the leading crypto security companies in the world that routinely release reports in regards to ongoing
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North Korean hacker crew dubbed “Lazarus Group” has reportedly stolen $571 million in crypto assets since 2017, and is allegedly the most ‘successful’ crypto hacker organization ever. A study conducted by cybercrime company Group-IB reveals.

Group-IB is one of the leading crypto security companies in the world that routinely release reports in regards to ongoing crypto crime issues the industry faces.

According to findings, Lazarus was behind 14 hacking attacks on cryptocurrency exchanges since January 2017 — stealing $571 million.

Spear phishing remains a popular attack vector for the group as well as other hackers. A portion of the report reads:

Spear phishing remains the major vector of attack on corporate networks. For instance, fraudsters deliver malware under the cover of CV spam [with an attachment] that has a malware embedded in the document.

Group-IB further indicates that Initial Coin Offering (ICO) platforms are prime targets for hackers, revealing that 10 percent of total funds raised from token sales in 2017–2018 were stolen. A majority of illicit activity targeting ICOs was reportedly conducted through phishing methods, with Group-IB estimating that large phishing groups have the capacity to steal around $1 million a month.

Lazarus is a hacking group which has been linked to a string of attacks against everything from banks to government agencies across the world.

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