North Korean Hackers Stole’s $571 Million in Cryptocurrency

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As per a report, a North Korean hacking group, named Lazarus, has managed to steal over $571 Million in cryptocurrencies.

As per an article published by The Next Web, the coming annual report from cyber-security vendor Group – IB set out that Lazarus was behind 14 hacks on crypto exchanges since January 2017, drawing a massive $571 million from the attacks.

The news backed up the claim from officials in South Korea, who stated in February that North Korean hackers likely stole millions of dollars worth of digital currencies in 2017.

As reported earlier, the National Intelligence Services stated that the phishing scams and other criminal methods had yielded billions of won in customer funds. Officials were further investigating whether the same hackers were behind the Coincheck exchange hack – however, Lazarus wasn’t particularly mentioned.

Group – IB further indicates that $882 million in digital currency was stolen from exchanges in total from 2017 to 2018, as per the summary of the report obtained by the tech news source.

The security provider stated the number of attacks targeting crypto exchanges is probably going to rise further, with hacker of more traditional financial institutions like banks being drawn to the space seeking significant gains.

TNW referred the report as saying that spear phishing – targeting individuals or organizations with malware delivered via an email attachment is the ‘major vector of attack’ on enterprise networks.

It continues:

“After the local network is successfully compromised, the hackers scan the local network to find workstations and servers used working with private digital currency wallets.”

Moreover, states Group – IB, hackers have snatched 10% of the funds raised by ICO platforms since 2017, with phishing the most common method of attack.