Cybersecurity

North Korean hacker group, Lazarus, steals $571 million in crypto attacks

Lazarus, the North Korean hacker group, is responsible for stealing $571 million in cryptocurrency attacks according to the Hi-Tech Crime Trends 2018 report by cybersecurity vendor, Group-IB.

According to Group-IB, Lazarus was behind five hacking attacks on cryptocurrency exchanges, including one particular attack on Japanese cryptocurrency exchange Coincheck, which resulted in $534 million was stolen.

Lazarus was one of four hacking groups that pose a real threat to the financial sector according to Dmitry Volkov, CTO of Group-IB, who presented the findings of the company’s annual report at the CyberСrimeCon event. The other three hacking groups named were Cobalt, MoneyTaker, and Silence. 

The top three countries of origin of the most active state-sponsored hacker groups are China, North Korea and Iran. Additionally, Asia Pacific was the target of most attacks carried out by hackers from multiple countries in the second half of 2017 and first half of 2018.

Cryptocurrency exchanges suffered an estimate total loss of $882 million due to targeted attacks in 2017 and in the first three quarters of 2018, and Group-IB predicts cryptocurrency attacks will continue to rise.

A summary of the report findings can be found here.