2017-2018 North korean hackers group ‘Lazarus’ has Stolen $882 million worth coins from Crypto exchanges

2017-2018 North korean hackers group ‘Lazarus’ has Stolen $882 million worth coins from Crypto exchanges

Blockchain Technology is considered to be much secure and faster than Banking, it has all sorts of security applications such as complexed algorithms, decentralised storage, record keeping and peer to peer sharing despite all these, crypto exchanges are still getting attacked via hacker groups. It seems like cryptocurrency exchanges are vulnerable to cyber attacks and hackers are taking advantages of it.
When it comes to hackers crew, no hacker crew has been quite as successful as the infamous ‘lazarus’ which is a north korean hacker group responsible for the theft of over half billion dollars this year.

The report comes from Group-IB which is considered to be one of the leading company in cybersecurity which was first profiled in The Next Web, also points out that some of the most aggressive hacker groups will likely shift their focus to cryptocurrency exchanges instead of banks. There is no doubt that hacking cryptocurrency exchanges have been lucrative when successful, considering that over $700 million was stolen within the first half of the year. Many have questioned just how preventable some of these attacks are, with Coincheck — a Japanese cryptocurrency exchange hacked for more than $500 million — admitting that, “we didn’t have enough people working on internal checks, management, and system risk.”

IB Report

Source: Group IB/The Next Web

The group of hackers known as The Lazarus Group (also known as HIDDEN COBRA) is notoriously elusive, and no significant tally can yet be made of how many members are involved. Regardless, they have attacks that have been attributed to them stemming from 2009. They are known for several high-profile bank attacks – most notably, the 2016 Bangladesh bank robbery, that resulted in the group successfully stealing over $80 million. They are perhaps best known for the infamous Sony Pictures Hack.

Lazarus has been focused on cryptocurrency for some time now, and recently have been utilizing a malware campaign known as AppleJesus that was especially effective with regards to Mac users. Many believe that the hacker group is targeting cryptocurrency as a result of the fact that the United States is attempting to isolate the country from the global financial system, as a result of its nuclear program, and that cryptocurrencies are an easier target, considering the fact that they are not controlled by a bank or government.

Source: CCN News

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