Home News Crime North Korean Hacker Group Reportedly Stole $571 Mn in Cryptocurrencies Since Jan....

North Korean Hacker Group Reportedly Stole $571 Mn in Cryptocurrencies Since Jan. 17

October 22, 2018 14:39
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North Korea, the country which has kept itself limited to the outside world and benefits to the advancement in the IT revolution has not kept itself limited to cybercrime. North Korea’s infamous hacking group, The Lazarus Group is the biggest crypto hacking syndicate operating in the world and is reported to have stolen almost half a billion dollar in cryptocurrencies from different crypto exchanges, as reported by The Next Web.

The group also is known as Hidden Cobra works under the directives of North Korean government and is responsible for some of the world largest cyber crimes. According to the report starting in January 2017, the group has hacked almost 14 crypto exchanges, stealing a massive $571 millions from the hack. Its name also propped up in the 2014 Sony hack, wannacry ransomware and other numbers of attacks on South Korean establishments.

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Some of the most interesting data reported by the cybersecurity outfit, Group-IB that the hacking group targeted most of the exchanges domiciled in South Korea such as YouBit, Bithumb and Coinrail. It didn’t specifically mention whether the group was behind the Coincheck hack.

In 2017-18, a total of $882 million has been stolen from cryptocurrency exchanges all over the world and Group-IB has specifically mentioned such incidence will only rise in the future as more banks and traditional institute being come to the play.

According to the report by TNW, that spear phishing-targeting individuals with malware delivered via an email attachment is the major vector of attack on enterprise networks. It mentions:

“After the local network is successfully compromised, the hackers browse the local network to find workstations and servers used working with private cryptocurrency wallets.”

The group also reports that mining pools are in great risk of getting compromised as the bad actors could deploy 51 per cent attack to take over the network, which will be a great negative for the crypto space.

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