Lazarus cyberattacks top $209 mln

North Korea’s backed syndicate, the Lazarus group had a field day in the third quarter this year, with the hacking group unleashing a wave of attacks that stole a staggering $208.6 mln.

According to BitcoinCasinos.com, this accounted for 30% of the quarter’s total loss.

“Lazarus group’s stunning heist shows the threats associated with state-sponsored cybercrimes,” said Edith Reads, a betting analyst from BitcoinCasinos.

“The attacks are a masterclass with high technical prowess and master skills. Crypto exchanges must enrich their security procedures to avert any future attempts.”

Tracking Lazarus, July 22, 2023, was among the days the cybercriminals struck.

Hot wallets

Lazarus accessed hot wallets from the CoinsPaid payment site through a social engineering attack. The FBI verified that they stole about $37.3 mln worth of cryptos.

In a similar operation, the hacker group stole $60 million in crypto assets from Alphapo, a crypto payment firm.

On September 4, Lazarus targeted Stake.com, an online crypto casino. The group stole a private key, giving them access to the platform and they made away with almost $41 mln in virtual currency.

Also, a cyberattack targeted the centralised crypto exchange CoinEx on September 12, 2023. The attack saw CoinEx lose $54 mln.