Lazarus Group's Crypto Holdings Drop to $47M Amid Accusations of Major Hacks
Summary:
The North Korean hacker group, Lazarus Group, has approximately $47 million in various cryptocurrencies, the majority being in Bitcoin. The group's holdings are down from $86 million following allegations of the Stake.com hack. They have reportedly executed several cyber-attacks, including a recent one on crypto exchange CoinEx, causing significant financial losses. Despite this, cryptocurrency thefts by North Korean-linked hackers have dropped by 80% from 2022.
The infamous hacker group from North Korea known as Lazarus Group is reported to have roughly $47 million in various cryptocurrencies, with Bitcoin taking the lion's share. As per data compiled by Dune Analytics using data from 21.co, the parent company of 21Shares, the digital wallets connected to Lazarus Group have around $47 million in different cryptocurrencies including about $42.5 million in Bitcoin, $1.9 million in Ether, $1.1 million in BNB and roughly $640,000 in largely Binance USD-based stablecoins. There has been a decline in the cryptocurrency in their possession from the $86 million they had around September 6 which was soon after they were accused of the Stake.com hack. The Dune dashboard monitors 295 wallets reportedly belonging to the Lazarus Group, according to both The Federal Bureau of Investigation in the US and the Office of Foreign Assets Control. Interestingly, no privacy coins like Monero, Dash, or Zcash that are allegedly exponentially more difficult to track, are held by the group. The digital wallets of Lazarus still remain considerably active, with the last transaction taking place on September 20. According to 21.co, the total holdings might be considerably more than what is being reported at the current moment, as these figures are just estimates based on the information that is publicly available. Lazarus Group has been implicated in an attack against the cryptocurrency exchange, CoinEx, which saw a loss of at least $55 million, as reported by Cointelegraph on September 13. Lazarus has also been blamed by the FBI for hacks against Alphapo, CoinsPaid, and Atomic Wallet which amassed to over $200 million in stolen assets in 2023. However, a recent report by Chainalysis shows an 80% reduction in cryptocurrency thefts committed by North Korean-linked hackers compared to 2022. As of mid-September, groups with a connection to North Korea reportedly stole a total of $340.4 million in digital assets, a significant drop from the record $1.65 billion in 2022. Finally, US federal authorities have warned health and public health-related industries in the US for a potential threat from Lazarus Group.
Published At
9/25/2023 5:35:00 AM
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