Blockchain Sleuth Uncovers Lazarus Group Wallets; $3.8 Million in Assets Frozen
Summary:
ZachXBT, a reputable blockchain investigator, revealed seven crypto wallet addresses linked to the North Korean hacking group, Lazarus, holding 891.13 Bitcoin. The revelation follows his scrutiny into the group resulting in the freezing of $3.8 million in crypto assets. Earlier this year, Lazarus resumed activity, moving $1.2 million of stolen digital assets from a blender, with part deposited into a dormant wallet. The group also employed LinkedIn for malware attacks, posing as blockchain developer job applicants to access sensitive data. Over the six years leading to 2023, Lazarus Group stole over $3 billion in digital assets.
ZachXBT, a well-known Blockchain detective, recently revealed seven cryptocurrency wallet addresses tied to the notorious North Korean hacking collective, Lazarus, containing a total of 891.13 Bitcoin. The addresses were revealed on May 21 via X, following an extensive probe into the criminal group, resulting in the freezing of $3.8 million in digital currency by law enforcement. As of this report, the flagged crypto wallets continue to contain the amounts identified by ZachXBT.
ZachXBT released a comprehensive report on April 29 providing insight into how the state-sponsored hacking entity managed to launder $200 million, harvested from over 25 hacking operations since last year. According to the investigator, the group utilized peer-to-peer (P2P) marketplaces and crypto-blending services to swap the purloined digital assets for regular cash.
The investigator reports that transactions totaling around $44 million were processed through the Paxul and Noones P2P trading platforms. Trading volumes and deposits by users under the names “EasyGoatfish351” and “FairJunco470” were found to correlate with the illicit funds. ZachXBT's research also reveals that the stolen digital currency was converted into Tether (USDT) before being subsequently exchanged for cash for withdrawal.
Lazarus Group, after a period of inactivity, re-emerged earlier this year. On January 8, the hackers transferred $1.2 million in pilfered digital currency from a blending service and deposited part of it into a dormant wallet. The group made two transactions totaling 27.37 Bitcoin (equivalent to $1.2 million at the time) from what experts have identified as a crypto mixer. Post-withdrawal, 3.343 BTC, approximately $150,582, was transferred to an address previously linked to the group.
Lazarus Group was seen on April 24 leveraging LinkedIn, a business-oriented social media platform, to carry out malware attacks on unsuspecting users. Blockchain security firm, Slowmist, highlighted the stratagem, clarifying that the pilferers masqueraded as applicants for blockchain development jobs within the crypto-sphere attempting to gain access to sensitive employee data.
In the six years up to 2023, the notorious Lazarus Group made away with more than $3 billion in digital currency. A staggering $1.7 billion was stolen in 2022 alone, almost ten times North Korea’s total export earnings for the same year. The Lazarus Group remains one of the most infamous cybercriminal organizations preying on the cryptocurrency sector.
Published At
5/21/2024 2:27:33 PM
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