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North Korean Hacking Group Linked to Major Crypto Attacks in 2018

A report by a top cybersecurity firm shows that Lazarus from North Korea is responsible.


 

Lazarus Reaps Big From Crypto Hacks, Report Claims

Emerging details indicate that hacking group Lazarus based in North Korea has been behind a number of major crypto jacking incidents in the past one year. Some of the hacks have been very damaging to the affected parties. It is alleged that they once used a malware called Applejeus to cause immense damage at an exchange platform that was not named.

At the moment, it is believed that Lazarus influence is spreading rapidly and nobody knows its to what extent. Reports show that the group might be behind attacks on Coinis, Yapizon, Bithump, CoinCheck and YouBit. Further reports show that the group might have nothing to do with the most recent attacks on Zaif, Bancor and Coinrail.

According to Group-IB a global cybersecurity company, from the crypto hacks, the industry has seen $882 in cryptocurrency assets missing from trading platforms. To date, Lazurus is believed to have benefitted from a bigger chunk of the loot. The group’s operations have remained elusive. From the 14 hacks reported in 2018, Lazarus is responsible for five taking home about $571 million in digital assets.

At the moment, no official information has been released regarding how the group uses the stolen funds. However, some sectors claim that the group is working for North Korean authorities who want to grow the crypto sector. The main goal is to become a top crypto base through the use of unethical means.

Group-IB stated that Lazarus means of hacking are baffling. The group has deployed old methods such as spear phishing and social engineering to gain entry into their target platforms.

According Group-IB spear phishing remains a major threat for corporates. In a detailed document on hacks, the group pointed out that hackers present malware to their targets through the disguise of CV spam with an inbuilt malware. If the target opens the document, hackers will then browse for workstations and service dedicated to private crypto wallets.

From an outside look, this seems easier to fix. However, according to the group stated that attacks on exchanges will keep happening since hackers will be more concentrated on exchange platforms due to high capital flow.


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