The United States claims that a group of North Korean hackers has carried out a series of brazen heists targeting both traditional financial institutions and the cryptocurrency sector.
The total amount stolen reached a whopping $879 million. In response, the U.S. government took steps to seize assets related to these thefts.
US seizes $2.7 million
On October 4, 2024, the U.S. government filed two lawsuits to begin seizing more than $2.67 million in stolen digital assets associated with the North Korean hacker group Lazarus.
The restraining order covers two major hacks, according to the filing. These include 1.7 million USDT stolen from the Deribit options exchange and 15.5 Bitcoins (worth approximately $971,000) stolen from Stake.com.
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Most recently, Lazarus Group was believed to be behind the WazirX exchange hack, which resulted in losses of $234.9 million.
By seizing these cryptocurrency assets, authorities aim to cut off the illicit financial flows generated by these hackers.
Lazarus Group targets organizations in countries such as Japan, Singapore, the United States, and Vietnam. The United States said the methods used by Lazarus Group combine malicious cyber attacks, extortion and theft.
The nickname “Lazarus” comes from the Biblical character who rose from the dead. The name is fitting for a group that keeps re-emerging with new tactics and goals.
Last September, the FBI warned of new tactics by North Korean hacker groups targeting cryptocurrency investors.
“Fake scenarios by North Korea often include offers for new jobs or investment in companies…The attackers typically initiate lengthy conversations with potential victims to establish trust. “The attacker attempts to deploy malware in what appears to be a natural and disarming situation,” the FBI warned.
In February 2021, the U.S. Department of Justice announced indictments against three North Korean computer programmers. These individuals were involved in a large-scale criminal conspiracy.
Their activities included theft of money and cryptocurrencies. It also deployed malicious cryptocurrency applications and facilitated fraudulent blockchain platforms.
The United States also claimed that the Lazarus Group participated in a number of high-profile attacks. These attacks include the Sony Pictures hack in 2014 and the creation of WannaCry ransomware.
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Additionally, Lazarus Group often attempts to launder stolen funds using the Tornado Cash mixer. However, law enforcement has managed to trace some of these funds.
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