North Korean Hackers Lazarus Group Stolen $3B in Cryptocurrency 2023

The programmer group stole the funds throughout recent years, which was reasonable used to fund the nation’s projects, a report said.

North Korea-linked programmer association Lazarus Group has stolen $3 billion in cryptocurrency throughout recent years, according to a report by cybersecurity firm Recorded Future.

The report released on Thursday reveals that in 2022 alone, the group pillaged $1.7 billion in cryptocurrency, liable to fund North Korean projects.

Blockchain information analysis firm Chainalysis indicates that out of this aggregate, $1.1 billion was stolen from decentralized finance (DeFi) platforms. A September report published by the U.S. Branch of Homeland Security (DHS) as a component of its Logical Exchange Program (AEP) also featured Lazarus’ double-dealing of DeFi protocols.

The U.S. Treasury Division introduced new sanctions against North Korea’s digital activities, adding ‘Sinbad’ to the Workplace of Unfamiliar Assets Control’s specially designated sanctions list. Sinbad has been embroiled in laundering the cryptocurrencies stolen by the Lazarus Group.

The group is known to have used Sinbad’s blender services to conceal the origins of the stolen funds. Such mixers obscure individual transaction trails by blending various users’ transactions.

Lazarus Group’s specialty is fund robbery. In 2016, they hacked the Bangladesh Central Bank, stealing $81 million. In 2018, they hacked the Japanese cryptocurrency exchange Coincheck, diverting $530 million, and went after the Central Bank of Malaysia, stealing $390 million.

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