- North Korea is reportedly using hackers to raise revenue through crypto heists, with the most notable incidents including the theft of $1 million in Ethereum (ETH) and $3.6 million in Bitcoin (BTC) from Japanese bitcoin exchanges in late May and June, respectively.
- While these heists garnered a great deal of media attention, it’s important to note that hackers working on behalf of the North Korean government aren’t new. The country has long used hackers to support its illicit activities, including the distribution of malware, the theft of information, and the deployment of cyberattack infrastructure.
- North Korea is increasingly turning to hacking to fund its nuclear and missile programs, and now it appears the country is using hackers to raise revenue on the dark web. Over the past year, North Korean hackers have been busy collecting cryptocurrencies — most notably Bitcoin — in heists that have collectively caused tens of millions of dollars in damages.
- Most recently, the same group that stole $1.6 million from the New York City-based crypto exchange Binance in July 2018 hit Binance again in December 2018, generating an additional $250,000 in Bitcoin.
- This marks the first known instance of North Korean hackers using cryptocurrency heists to raise money for a government that has been repeatedly sanctioned for its weapon development efforts.
Latest cyber espionage activity
- North Korea is known for stealing high-profile information, such as the nuclear codes of the U.S. and Israel. Known also for its cyber-espionage, North Korea was able to steal $81 million from the Bangladesh central bank by hacking into the bank’s system in an incident that occurred in 2014.
Recently, the world was shocked when news surfaced that the secretive nation of North Korea had launched a massive cyber-attack against the United States. This attack, which lasted for a few weeks, targeted major U.S. companies, including Apple, Google, Microsoft, and others.
Lazarus targeting financial services, crypto
- Lazarus-linked hacker groups have been involved in various hacks on crypto firms and traditional banks for several years now. As the group has matured and gotten more sophisticated, Lazarus has expanded to targeting a wide range of targets including financial services, crypto exchanges, and even US government organizations.
- The most high-profile attack to have occurred this year was the breach of security firm HBGary Federal, where an unknown group of hackers, believed to be Lazarus, hacked the firm and stole information on their services.
Conclusion
- Lazarus-linked hacker groups have been involved in various hacks on crypto firms and traditional banks for several years now. As the group has matured and gotten more sophisticated, Lazarus has expanded to targeting a wide range of targets including financial services, crypto exchanges, and even US government organizations.
- The most high-profile attack to have occurred this year was the breach of security firm HBGary Federal, where an unknown group of hackers, believed to be Lazarus, hacked the firm and stole information on their services.
