North Korea’s Lazarus Group Moves $63.5M in Crypto Stolen From Harmony Bridge Hack

The Lazarus group in North Korea transferred $63.5 million from the crypto holdings they stole from the Harmony Bridge hacker last year. They continue to use new methods of exploitation and plunder of the vulnerable sector.

The Lazarus group, the North Korean-associated piracy group, took $63.5 million out of the Harmony Bridge piracy they were responsible for last year.

The reports emerged online as the piracy unit moved the funds through the privacy platform railgun before depositing the obscured funds on three different exchanges.

There are over 350,000 addresses associated with the 41,000 ETH transfer, which took place on Jan.13. There are more than 350,000 addresses associated with the transfer of 41,000 vocational education and training, which took place on 13 January.

The group was also in charge of the notorious Ronin Bridge hack, which saw a huge 600 million dollars stolen. Such incidents have led governments and crypto platforms to pay much more attention to security, particularly in the case of crypto bridges.

There is no reason to expect the Lazarus group to stop their attacks in the near future. Cryptographic entities have been concerned about the 2022 repetition, while governments are stepping up efforts on cryptology with respect to sanctions.

Kaspersky: Lazarus Group Impersonating VC Firms

Lazarus’ continued attempts at attacking the market are backed up by a few startling reports published recently. The kaspersky cybersecurity company said the group pretends to be venture capital to invest in crypto startups.

Kaspersky revealed that the group created fake websites for venture capital companies and banks to win crypto startups over. The lazarus group uses malicious software to attack different elements of the industry companies, according to the cybersecurity company.

Reports of North Korea attacking crypto businesses date back to 2020. The industry is getting stronger and better protected. The country is using funds from crypto hacks to develop nuclear weapons

CertiK’s Web3 Security Report: 2022 All-Time High for Stolen Crypto

Blockchain security firm CertiK recently released its 2022 Web3 Security report, offering some insight into the security events of 2022. The country uses cryptopiracy funds for the development of nuclear weapons.

Bridge attacks have been a particularly favored attack method, with nine such incidents representing over one-third of the total value lost. He noted that last year was the "worst year registered in terms of lost value of web3 protocol." Deck attacks were an especially favoured method of attack, Nine of these incidents account for more than a third of the total loss. On a positive note, white hat hackers saved over $20 billion in potential losses in 2022.