Lazarus Group Pulled Off 2020’s Biggest Exchange Hack and Appears to be Exploring New Money Laundering Options
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This blog is an excerpt from the Chainalysis 2021 Crypto Crime Report. Click here to download the whole thing!
Lazarus Group is a cybercriminal syndicate working on behalf of the North Korean government. Lazarus has been responsible for numerous cryptocurrency exchange attacks, such as the 2019 UpBit hack, which netted them more than $49 million worth of cryptocurrency. Overall, the group is believed to have stolen more than $1.75 billion worth of cryptocurrency in the time it’s been active. Experts believe proceeds from Lazarus Group hacks go toward North Korea’s nuclear weapons program, so combatting their activity is of utmost importance for international safety and stability. That’s why in 2020, the U.S. government took actions such as sanctioning two Chinese nationals who helped Lazarus Group launder funds stolen in multiple cryptocurrency hacks, and filing forfeiture complaints against 280 cryptocurrency addresses associated with Lazarus Group hacks.
However, Lazarus Group still managed to pull …
Lazarus Group is a cybercriminal syndicate working on behalf of the North Korean government. Lazarus has been responsible for numerous cryptocurrency exchange attacks, such as the 2019 UpBit hack, which netted them more than $49 million worth of cryptocurrency. Overall, the group is believed to have stolen more than $1.75 billion worth of cryptocurrency in the time it’s been active. Experts believe proceeds from Lazarus Group hacks go toward North Korea’s nuclear weapons program, so combatting their activity is of utmost importance for international safety and stability. That’s why in 2020, the U.S. government took actions such as sanctioning two Chinese nationals who helped Lazarus Group launder funds stolen in multiple cryptocurrency hacks, and filing forfeiture complaints against 280 cryptocurrency addresses associated with Lazarus Group hacks.
However, Lazarus Group still managed to pull …