In a report by Todayq News on September 5, 2023, the crypto betting platform Stake suffered a massive security breach, resulting in a suspected loss of $41 million. Security firm Cyvers discovered a “private key leak” that allowed unauthorized withdrawals of around $16 million in various cryptocurrencies, including Ethereum, Tether, USD Coin, and DAI. Later, crypto investigator ZachXBT also uncovered an additional $25 million loss from Polygon and Binance Smart Chain.
Recently, the FBI confirmed this in a statement: The Lazarus Group, a North Korean hacker organization, is responsible for the recent security breach that caused losses of a staggering $41 million in digital assets from the crypto casino Stake.
Initially, Stake described the series of transactions as “unauthorized transfers” and promptly initiated an investigation, notifying its users. The FBI’s subsequent investigation revealed the specific digital wallet addresses believed to house the stolen digital assets. What’s notable is that the Lazarus Group funneled these ill-gotten gains through various cryptocurrency networks, including Bitcoin, Ethereum, Polygon, and Binance Smart Chain.
Related Article: North Korea’s Lazarus Group could be behind the $200 million attack
This incident is part of a larger pattern attributed to the Lazarus Group, which includes a $100 million theft from Atomic Wallet in June and a $60 million heist from projects AlphaPo and CoinsPaid in July. Over time, this North Korean hacker collective has managed to pilfer more than $2 billion in digital assets across multiple incidents.
Notably, in April of a prior year, the U.S. Treasury Department connected the Lazarus Group to a massive $622 million exploit that drained the Ronin Network, an Ethereum sidechain crucial to the play-to-earn crypto game Axie Infinity, marking one of the largest crypto exploits on record.
Related Article: North Korean hackers transfer $63.5 million in Crypto they stole in a DeFi heist
Recently, on September 4, 2023, Todayq News reported that the South Korean government is crafting a comprehensive bill to track and freeze North Korean cryptocurrency assets, strengthen cybersecurity, and combat cyber threats. The bill aims to “track and neutralize” virtual assets acquired by North Korea through hacks.
North Korean hackers have stolen an estimated $2 billion in digital assets since 2018, with $200 million stolen in 2023 alone. The FBI is also tracking North Korean state-backed hackers, flagging six Bitcoin wallets containing 1,580 Bitcoins valued at $40 million connected to the Lazarus Group.
