Lazarus group first surfaced in 2009, and since then, it has primarily targeted crypto firms, stealing billions of dollars worth of assets.
The Munchables Hack Is Way Worse Than It Seems
Apparently orchestrated from North Korea, the $63 million hack adds grist to the argument that crypto exploits pose a plausible national security risk.
Illicit Funds in Crypto Ecosystem Shrank 9% Last Year, Yet Criminals Still Handled Nearly $35B: TRM Labs
Illicit activity in the cryptocurrency ecosystem appears to have reduced, with the total illicit funds shrinking by 9% in 2023 compared to 2022, even though criminals still handled over $34 billion worth of cryptocurrencies, Blockchain analytics firm TRM Labs has found.
North Korean Crypto Hackers Have Stolen $3B Since 2017, Says UN Security Council: Report
A UN Security Council panel is investigating 17 crypto heists in 2023, for which North Korea may have been responsible, which were valued at more than $750 million.
UN Accuses North Korea Of $3B Crypto Theft To Fund Nuclear Weapons Program
In a recently reviewed unpublished report by Reuters, United Nations (UN) sanctions monitors have alleged that North Korea engaged in a massive theft of crypto assets, raking in $3 billion through cyberattacks.
Nuclear Upgrades And Crypto Cyberattacks Unveiled
According to Reuters, the independent panel of sanctions monitors revealed that despite international sanctions, North Korea continued to defy regulations by enhancing its nuclear arsenal and producing nuclear fissile materials.
The monitors further noted that the country conducted ballistic missile launches, deployed a “tactical nuclear attack submarine,” and even placed a satellite into orbit.
The UN report points to 58 suspected cyberattacks on crypto-related companies between 2017 and 2023, valued at approximately $3 billion. These attacks allegedly provided crucial funding for North Korea’s weapons of mass destruction (WMD) development.
The report states that hacking groups affiliated with the Reconnaissance General Bureau, North Korea’s primary foreign intelligence agency, were responsible for these cyber assaults.
The monitors highlighted the increasing trend of North Korea targeting defense companies and supply chains and collaborating with other actors by sharing infrastructure and tools. The report also raises concerns about reports of North Korea supplying conventional arms and munitions, which contravenes existing sanctions.
While the UN report is set to be released publicly later this month or early next, North Korea’s mission to the United Nations has not yet responded to requests for comment on the sanctions monitors’ allegations.
The Security Council, traditionally deadlocked on the issue, is unlikely to take immediate action against North Korea, according to Reuters.
China and Russia have advocated for easing the sanctions to “persuade” North Korea to return to denuclearization talks. Furthermore, Russia and North Korea have recently pledged to strengthen military relations, although both countries deny allegations of weapons supply.
North Korea’s Illicit Trade
Per the report, North Korea has slowly begun to emerge despite the lockdown imposed amid the COVID-19 pandemic. The UN report reveals signs of trade recovery, with a higher trade volume in 2023 compared to 2022.
Notably, the United Nations monitors noted the reappearance of foreign consumer goods, including potential luxury items prohibited under Security Council sanctions.
The sanctions monitors also investigated reports of numerous North Korean nationals working overseas violating sanctions, particularly in information technology, restaurants, and construction sectors. These individuals were found to earn income that benefited the North Korean government.
In addition, the report highlights North Korea’s continued access to the international financial system and engagement in illicit financial activities, including crypto assets, in defiance of UN Security Council resolutions.
Featured image from Shutterstock, chart from TradingView.com
North Korean Hacking Group Lazarus Withdraws $1.2M of Bitcoin From Coin Mixer
North Korean hackers Lazarus Group have moved $1 million worth of their ill-gotten gains from a coin mixer to their holding wallet, sparking speculation over their next move.
North Korea Was Responsible for Over $600M in Crypto Thefts Last Year: TRM Labs
North Korea-affiliated actors were behind a third of all crypto hacks in 2023, making off with some $600 million in funds, a new TRM Labs study said.
U.S., South Korea, Japan Discuss North Korean Crypto Thefts in Trilateral Meeting
National security officials with the U.S., South Korean and Japanese governments discussed North Korea’s crypto thefts and other efforts to work on its nuclear and ballistic missile programs, the White House announced Friday night.
North Korean Hackers Lazarus Group Stolen $3B in Cryptocurrency
The North Korean hacker group stole the funds over the last six years, which was likely used to fund the country’s projects, the report said.
US Treasury sanctions crypto mixer Sinbad, alleging North Korea ties
The government department has previously imposed sanctions on crypto mixers Blender and Tornado Cash despite many in the space pushing back on actions against software tools.
Crypto Mixer Sanctioned by U.S. Treasury for North Korea Allegations, as FBI, Dutch and Finnish Police Seize Website
The U.S. Treasury Department’s Office of Foreign Asset Control listed two crypto addresses tied to Sinbad, a mixing service, in its latest sanctions list.
Apple MacOS malware targets crypto community and engineers
The social engineering attacks trick community members into downloading a malicious ZIP archive named “Cross-platform Bridges.zip” — imitating an arbitrage bot designed for automated profit generation.
Tornado Cash Trading Volumes Nosedived 90% After U.S. Sanctions
While North Korean hackers have mostly moved to other Bitcoin mixers, some illicit use of Tornado Cash continues, a report from TRM Labs says.
North Korean Lazarus Group amasses over $40M in Bitcoin, data reveals
The North Korean hacking collective has at least $47 million in cryptocurrency, including Bitcoin, Ether, Binance Coin and various stablecoins, including Binance USD.
3 steps crypto investors can take to avoid hacks by the Lazarus Group
The Lazarus Group has mastered the art of stealing crypto investors’ assets. Here are a few tips on how investors can protect their portfolios.
North Korea’s Lazarus Group responsible for $55M CoinEx hack: Report
Security firm SlowMist estimated that at least $55 million in digital assets were taken by the CoinEx hackers.
North Korea’s Lazarus Group responsible for $55M CoinEx hack: Report
Security firm SlowMist estimated that at least $55 million in digital assets were taken by the CoinEx hackers.
North Korea’s ‘Lazarus’ Hackers Stole $41 Million From Crypto Gambling Site, FBI Says
The Lazarus Group has been targeting crypto companies for years now.
Stake hack of $41M was performed by North Korean group: FBI
After investigating, the FBI concluded that the hack of crypto gambling site Stake was carried out by North Korean hackers Lazarus Group.
Tornado Cash Developer Roman Storm Pleads Not Guilty to Money Laundering, Other Charges
Tornado Cash developer Roman Storm pleaded “not guilty” to charges of conspiring to operate a money transmitter or facilitate money laundering and sanctions evasion in a court appearance Wednesday.