FBI Identifies North Korean Hacking Group's Bitcoin Wallets Containing $40 Million
Summary:
The FBI has identified six Bitcoin wallets linked to North Korean hacking group Lazarus, containing 1,580 BTC worth $40 million. These wallets are believed to hold funds from various cryptocurrency hacks. The FBI warns crypto companies to watch for movement in these wallets, indicating possible sales by the group. Lazarus has been responsible for stealing billions of dollars in crypto assets and was involved in high-profile exploits last year. Despite code vulnerabilities, blockchain technology makes it difficult for hackers to launder their gains. Law enforcement agencies have previously frozen assets linked to such exploits.
The FBI has identified six Bitcoin wallets associated with the North Korean hacking group Lazarus, totaling 1,580 BTC, valued at $40 million. These funds are suspected to have been acquired from a series of cryptocurrency hacks throughout the past year. The FBI's investigation revealed that the Lazarus Group transferred approximately 1,580 BTC related to various crypto exploits. The specific Bitcoin addresses where these funds are currently held are as follows: 3LU8wRu4ZnXP4UM8Yo6kkTiGHM9BubgyiG, 39idqitN9tYNmq3wYanwg3MitFB5TZCjWu, 3AAUBbKJorvNhEUFhKnep9YTwmZECxE4Nk, 3PjNaSeP8GzLjGeu51JR19Q2Lu8W2Te9o, c3NbdrezMzAVVfXv5MTQJn4hWqKhYCTCJo, and B34VXKa5upLWVYMXmgid6bFM4BaQXHxSUoL. The FBI has cautioned cryptocurrency companies to remain vigilant, as the movement of funds associated with this notorious North Korean group may indicate their intention to sell. The agency advises these companies to monitor the mentioned BTC wallets and utilize blockchain data to track any activity involving these funds. Over the years, the Lazarus Group has been responsible for numerous crypto-related exploits, resulting in the theft of billions of dollars worth of cryptocurrency. A recent report by TRM Labs suggests that these North Korean hackers have stolen nearly $2 billion in crypto since 2018, with the group being most active in 2022, having stolen close to $1 billion in crypto assets last year alone. Notably, the Lazarus Group has been implicated in significant decentralized finance (DeFi) exploits, such as the Harmony's Horizon Bridge and the Ethereum-linked sidechain Ronin Bridge, which experienced a $625 million hack. While code vulnerabilities have contributed to an increase in crypto exploits, blockchain technology poses challenges for these hackers in laundering or transferring their ill-gotten gains, thanks to its public ledger system allowing for the tracking of fund movements. In the past, law enforcement agencies like the FBI, in collaboration with crypto companies, have successfully frozen assets tied to such exploits. For instance, in February of this year, Huobi and Binance froze $1.4 million worth of crypto assets connected to North Korea, and $63 million of assets related to the Harmony Bridge hack were also frozen by crypto exchanges.
Published At
8/23/2023 10:24:15 AM
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