Tue, May 21, 2024

North Korean Hacking Group Lazarus and Crypto Owners

Crypto industry and challenges

One of the biggest challenges for crypto owners as well as authorities is how to identify and prosecute people related to various illegal activities. According to cybersecurity experts, the North Korean hacking group Lazarus, is targeting South Korean crypto holders amid the pandemic.

Moreover, this group is also launching attacks against other nations including the U.S. Also, a cybersecurity firm ESTsecurity warned that Lazarus started to launch what is called adaptive persistent threats (APTs). Let’s have a look at the ATPs. The North Korean hackers are trying to gain access to a network while remaining undetected.

This cybersecurity firm released a statement and thanks to this statement it is possible to learn more about cyberattacks.

For example, a hacker can gain access to a network or exchange account by sending emails with malicious attachments. Moreover, a hacker will try to convince the crypto owner that he or she is from legitimate entities.

Importantly, when it comes to attacking foreign institutions and companies, their approach is quite interesting. For example, they might send emails disguised as a job offer or job description.

Crypto-related crimes and United NationsHacking group Lazarus and crypto owners

North Korea is the most isolated country in the world, and it is not a small feat to collect information about local hackers. Moreover, the United Nations, as well as the European Union and the U.S., are trying to address problems regarding nuclear weapons. They imposed sanctions on North Korea.

In March, the U.S. Treasury Department’s Office of Foreign Asset Control added 20 new Bitcoin addresses associated with two individuals to the list of sanctioned individuals. Based on the information, individuals were connected with the North Korean hacking group.

Moreover, since 2018 this group stole more than $500 million in cryptocurrency. According to the United Nations Security Council, expert panel North Korea conducted cyberattacks to steal crypto and fiat currencies.

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