The Lazarus Group, a prominent North Korean hacker, has accumulated a staggering $47 million in cryptocurrency, primarily in Bitcoin, according to data from 21(Dot)Co. Within their digital wallets, they hold approximately $42.5 million in BTC, $1.9 million in Ether, $1.1 million in BNB, and an additional $640,000 in stablecoins like Binance USD. It’s worth noting that this represents a significant drop from the $86 million they held shortly after their involvement in the Stake(dot)com hack.
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The group’s cryptocurrency holdings are tracked through 295 wallets identified by the FBI and Office of Foreign Assets Control (OFAC) as belonging to the hacking group. Surprisingly, Lazarus does not hold any privacy coins such as Monero, Dash, or Zcash, which are known for their enhanced anonymity.
What’s noteworthy is that Lazarus’ crypto wallets continue to be highly active, with the most recent transaction recorded as of September 20. Furthermore, 21(Dot)Co suggests that their actual holdings may surpass the reported figures, emphasizing that this is a conservative estimate based on publicly available data.
Recently, the South Korean government crafted a comprehensive bill to track and freeze North Korean cryptocurrency and enhance cybersecurity. This was part of their efforts to combat cyber threats, particularly from North Korea. The bill aimed to “track and neutralize” cryptocurrency obtained by North Korea through hacks, showing a heightened focus on countering cyberattacks, as reported by Todayq News on September 4, 2023.
The Lazarus Group has made headlines for its involvement in various high-profile hacks, including the CoinEx attack resulting in a $55 million loss, as well as the Alphapo, CoinsPaid, and Atomic Wallet breaches, which collectively accounted for over $200 million in stolen funds in 2023.
Despite their criminal efforts, it’s worth mentioning that crypto thefts linked to North Korea-based hackers have decreased significantly by 80% compared to 2022, as reported by Toadyq News. As of mid-September, these groups had pilfered $340.4 million in cryptocurrency, down from a staggering $1.65 billion in the previous year.
Adding to the concern, U.S. federal authorities have issued a warning about a “significant risk” of potential attacks on U.S. healthcare and public health sector entities by the Lazarus Group, underscoring the ongoing threat posed by this sophisticated cybercriminal organization.
