US Seizes Nearly $3M from North Korea's Lazarus Group
The seizure targets funds linked to hacks involving major platforms such as Deribit and Stake.com
October 7, 2024 10:00 AM
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TL;DR On October 4, 2024, the United States filed legal action to seize over $2.67 million in stolen digital assets. This action is part of a broader effort to counter the Lazarus Group, a North Korean hacking group responsible for stealing a staggering $879 million through various cyber attacks.
U.S. Legal Action Against Cyber Theft
The U.S. government took a decisive step late last week in its fight against international cybercrime. The country's authorities filed legal actions to seize over $2.67 million in stolen digital assets.
This move targets funds connected to the notorious North Korean hacker group Lazarus. Known for high-stakes heists, this group allegedly stole $879 million, impacting traditional and crypto financial ecosystems.
Targeted Hacks and Seizures
The legal filings specifically mention two significant hacks. These involve the theft of 1.7 million USDT from the Deribit options exchange and 15.5 Bitcoin, valued at around $971,000, from Stake.com.
By initiating these seizures, U.S. authorities aim to disrupt the illegal financial flows generated by these hackers, thereby protecting the integrity of economic networks.
Recent and Ongoing Threats
Lazarus Group's activities are not limited to these incidents. They are believed to be behind the recent WazirX exchange hack, which resulted in a loss of $234.9 million.
The group employs sophisticated methods, such as malicious cyber attacks, extortion, and theft, in various countries, including Japan, Singapore, the United States, and Vietnam. The U.S. government remains vigilant in countering these threats.
"North Korean fake scenarios often include offers of new employment or corporate investment," the FBI warned last September.
A History of Cybercrime
The Lazarus Group's reputation precedes it, with a history of high-profile attacks. These include the infamous 2014 Sony Pictures hack and the creation of WannaCry ransomware.
In February 2021, the U.S. Department of Justice indicted three North Korean programmers linked to these crimes, highlighting the global scale and impact of their operations.
Tracking and Disrupting Illicit Funds
Efforts to launder stolen funds often involve the Tornado Cash mixer. However, law enforcement has successfully traced some of these illicit transactions.
The ongoing battle against such cyber threats underscores the importance of international cooperation and advanced cybersecurity measures.
