Lazarus Group

South Korea and the U.S. have joined forces to develop technologies to prevent cryptocurrency theft, especially targeting North Korean hackers responsible for large-scale heists. The partnership includes research, tracking stolen assets, and tightening sanctions against networks aiding cybercrimes.

The U.S. Treasury sanctioned two Chinese individuals and a UAE-based company for laundering cryptocurrency to fund North Korea’s weapons programmes. The crackdown aims to disrupt Pyongyang’s use of cybercrime and illicit financial networks to support its nuclear ambitions.

Upbit refunded 8.5 billion won to 380 voice phishing victims, reinforcing its commitment to user security. Authorities have also linked North Korea's Lazarus Group to the 2019 Ethereum theft of $1.4 billion. In response to rising crypto crimes, Upbit and law enforcement are ramping up their collaboration to safeguard the digital finance space.

North Korean hackers are targeting crypto investors worldwide with a convincingly designed gaming site featuring AI-generated content. They have invested substantial resources into promoting this game, allowing them to exploit a zero-day vulnerability in Google’s Chrome browser that reportedly drains users’ wallets.

Two recent forfeiture actions by the US Attorney for DC have revealed North Korean crypto hackers' laundering methods, with the government seeking to seize about $2.7 million in stolen crypto. As such cases increase, one must ask: Is crypto crime a growing cybersecurity threat?

Alexey Pertsev, the creator of Tornado Cash, has been convicted of laundering $1.2B and sentenced to 64 months in jail, signalling potentially far-reaching consequences for developers working on open-source code projects.

The Lazarus Group, a North Korean hacking syndicate, has elevated its crypto phishing tactics by exploiting LinkedIn's trust. They impersonate industry figures to lure unsuspecting victims, highlighting the need for enhanced cybersecurity measures in the crypto community.

This group of scammers has been associated with numerous rug pulls, including projects like Magnate, Kokomo, Solfire, and Lendora.

Tornado Cash’s co-founder, Roman Storm, is challenging accusations made by US authorities, asserting that the service is not intended for facilitating money laundering.

Lazarus Group's sophisticated hacking operations continue to plague the crypto world, accounting for a significant portion of 2023's crypto thefts. Their actions not only reflect the ongoing threats in the digital finance realm but also the need for concerted global efforts to counter such cybercrimes.