Lazarus Group Moves $1.2M in Stolen Funds Through Coin Mixer
North Korean hackers, known as the Lazarus Group, have recently transferred $1.2 million worth of stolen funds from a coin mixer to a holding wallet. This transaction marks their largest movement of funds in over a month, drawing attention to their persistent and cunning activities in the world of cryptocurrency.
Blockchain Analysis Reveals Lazarus Group’s Latest Multi-Million Dollar Transaction
Data from blockchain analysis firm Arkham sheds light on the latest transaction by the Lazarus Group. The hackers’ wallet received 27.371 bitcoin (BTC) in two transactions before sending out 3.34 BTC to a previously used wallet. While the specific coin mixer used in the transaction remains unidentified, the move highlights the group’s efforts to obscure the ownership of their ill-gotten gains.
Exploring the Role of Coin Mixers in Cryptocurrency Hacks: Lazarus Group Case
Coin mixers, also known as tumblers, are blockchain-based protocols that enable the obfuscation of cryptocurrency ownership. By mixing stolen coins with those of other users before redistributing them, coin mixers make it challenging to trace the provenance and transfers of cryptocurrencies. This anonymity is a stark contrast to the transparent nature of most blockchains, providing a valuable tool for hackers like the Lazarus Group to conceal their illicit activities.
Lazarus Group: Behind $3B in Cryptocurrency Hacks and Exploits
The Lazarus Group has gained notoriety in the cryptocurrency world for their involvement in a staggering $3 billion worth of hacks and exploits over the past three years. According to a report by cybersecurity firm Recorded Future, the group has been responsible for a series of high-profile attacks that have targeted various cryptocurrency platforms. The U.S. Treasury Department has even linked the Lazarus Group to a $600 million theft from the Axie Infinity-linked Ronin bridge.
North Korean Hackers Account for $600M in Crypto Theft, TRM Labs Reports
A report from TRM Labs reveals that North Korea-affiliated hackers, including the Lazarus Group, accounted for one-third of all cryptocurrency exploits and thefts in 2023, resulting in a staggering $600 million in stolen funds. This highlights the significant impact that North Korean hackers have on the cryptocurrency ecosystem and the need for increased cybersecurity measures to thwart their activities.
As of now, the Lazarus Group’s wallet holds $79 million in cryptocurrencies, including $73 million worth of bitcoin and $3.4 million worth of ether (ETH). The group’s ongoing activities and substantial holdings serve as a reminder of the ongoing challenges faced by the crypto community in combatting cybercriminals. Observers like Metamask developer Taylor Monahan believe that recent attacks, such as the Orbit attack resulting in an $81 million loss, follow patterns similar to previous Lazarus Group exploits, reaffirming the group’s expertise and persistence.
Analyst comment
Positive news: None
Negative news: Lazarus Group Moves $1.2M in Stolen Funds Through Coin Mixer, Blockchain Analysis Reveals Lazarus Group’s Latest Multi-Million Dollar Transaction, Exploring the Role of Coin Mixers in Cryptocurrency Hacks: Lazarus Group Case, Lazarus Group: Behind $3B in Cryptocurrency Hacks and Exploits, North Korean Hackers Account for $600M in Crypto Theft, TRM Labs Reports
Neutral news: None
As an analyst, it is expected that the market will face increased challenges in combatting cybercriminals due to the ongoing activities and substantial holdings of the Lazarus Group. Increased cybersecurity measures and vigilance are necessary to combat their persistence and expertise.
