North Korean hackers are intensifying their campaign against crypto, with industry sleuths blaming the rogue state for hacks of more than $290 million.
On August 1, investigators ZachXBT and Tayvano claimed Lazarus Group, the notorious hackers backed by the North Korean government, had been observed transferring about $8.5 million across three different blockchain networks. Alphapo, CoinsPaid, Atomic Wallet, and Harmony suffered hacks—with the total amount of stolen funds estimated at $290 million.
Lazarus Group: The World’s Most Prolific Crypto Hackers
Analysts believe that the hacking group is currently consolidating its funds in order to launder money. The group recently split 4600 ETH into 125 new Ethereum addresses within a five-hour period. The stolen funds were then moved to the Avalanche blockchain and converted into Bitcoin.
Currently, Lazarus reportedly controls 125 Bitcoin addresses holding a total of 290 BTC. Each wallet contains between one and three BTC.
On July 22, CoinsPaid suffered a $37.3 million hack. On July 26, the firm revealed it suspected the Lazarus Group thanks to patterns in on-chain behavior.
Go to Source to See Full Article
Author: Josh Adams
Tip BTC Newswire with Cryptocurrency
Donate Bitcoin to BTC Newswire
Donate Bitcoin Cash to BTC Newswire
Donate Ethereum to BTC Newswire
Donate Litecoin to BTC Newswire
Donate Monero to BTC Newswire
Donate ZCash to BTC Newswire
