North Korean based Lazarus, a hacking group steals $571 Million of Crypto since January 2017
According to TheNextWeb, an online news publication stated that mentioned decisions from the yearly report of cybersecurity vendor Group-IB, Lazarus, the North Korean hacking group was responsible for 14 hacking attacks on cryptocurrency exchanges and stole $571 million worth cryptocurrency since January 2017.
Lazarus is a hacking group based out of North Korean which has been connected to a chain of attacks against everything from banks to government agencies across the world and now hunting for cryptocurrency.
Lazarus the hackers attacked cryptocurrency exchanges with social engineering, spear phishing, and malware attacks stealing $571 million worth cryptos.
Spear phishing is the primary source of the attack on all online networks such as Corporate networks or cryptocurrency exchanges. To understand the fraudsters plant their malware with the help of CV including the attachment which has their code or malware embedded in the CV.
According to the report, Group-IB states the number of attack on online crypto exchanges to rise. The attacks were not only from Lazarus but all the other groups. It looks like Lazarus was the winner in stealing a lot of Crypto.
Initial Coin Offering also termed as ICO, the platforms raised their 10 percent of the funds with the help of ICO over the 12 months period, and hackers stole half of them.
According to the report, large phishing/hacking groups are capable of stealing $1 million worth of cryptocurrency a month.
Fraudsters are even creating fake websites using stolen cryptocurrency project information and forged white papers.
“Fraudulent phishing-schemes involving crypto-brands will only get more complex as well as cybercriminals’ level of preparation for phishing attacks,” the group informed.
Security researchers have earlier commanded that North Korea-based APT (advanced persistent threat) groups are frequently attacking financial and economic institutions and Bitcoin exchanges.