The FBI has alerted cryptocurrency companies to the funds associated with North Korean hacking groups Lazarus Group and APT38. These groups are believed to be moving these funds, raising concerns within the crypto industry.
In the past 24 hours, North Korean cybercriminals shifted around 1,580 Bitcoin, roughly $40 million today, according to the FBI. The cryptocurrency funds were associated with the Lazarus Group and APT38.
Authorities suspect that the state-backed groups “may attempt to cash out” their holdings into cash.
“Private sector entities should examine the blockchain data associated with these addresses and be vigilant in guarding against transactions directly with, or derived from, the addresses,” the alert warned.
The press release also included information about six Bitcoin wallets identified as allegedly owned by the hackers.
Lazarus Recent Hacks
In June, Atomic Wallet fell victim to a major hack where hackers stole over $100 million in virtual currency. The blockchain analysis firm Elliptic reported that the Lazarus Group, a well-known cybercriminal organization, was responsible for this attack. Notably, the laundering process for the stolen crypto assets closely matched the techniques employed in past hacks attributed to the group.
Lazarus Group hackers were also tied to the theft of $60 million virtual currency from AlphaPo, a centralized crypto payment provider.
CoinsPaid, a cryptocurrency wallet provider, experienced a significant attack resulting in a loss of $37 million. During a post-mortem analysis of the incident, CoinsPaid strongly suspected the involvement of the notorious group.
The Lazarus Group has an extensive record of involvement in crypto exchange hacks. This history includes the theft of $100 million from Harmony’s Horizon Bridge and a massive $625 million cryptocurrency theft from the Ronin Network, an Ethereum-based sidechain designed for the popular play-to-earn game Axie Infinity.
