Lazarus Group Tied to $3.2 Million Crypto Scam
The Lazarus Group, a North Korean state-linked cybercrime organization, has once again drawn international attention after being implicated in a $3.2 million cryptocurrency scam.
Renowned by its sophisticated strategies as well as connections with the ruling regime of North Korea, the group remains a severe challenge to the international crypto and cybersecurity environment.
On June 29, a blockchain investigator ZachXBT revealed in his Telegram channel that Lazarus Group was the attacker that had stolen the money on May 16, when the owner of a huge amount of digital funds fell into the trap of a fraudulent transaction, unsuspecting.
Lazarus Group Uses Deceptive Scam Tactics
Although ZachXBT did not provide all the information about the scam, the outfit is notorious at employing misleading tactics to target rich people and cryptocurrency exchanges.
After the theft, the stolen resources were initially transferred out of the Solana blockchain to Ethereum, a typical laundering tactic to take advantage of better liquidity and ensure fewer traces of transactions.
On June 25, the group was reported to have deposited 800 ETH into Tornado Cash, the crypto mixer with a reputation to improve the privacy of a transaction. On 27 June, another 400 ETH was transferred.
By the time ZachXBT reported the theft, the attacker left about 1.25 million of the stolen money in an Ethereum wallet, the contents of which included a combination of DAI stablecoins and ETH.
The fact that these funds have not yet been laundered implies that the hackers might be biding their time, awaiting a prime opportunity to clean up the rest of the funds or use them in subsequent operations.
This recent disclosure supports the claims that the Lazarus Group should be regarded as a tenacious and dynamic menace facing the digital finance sectors.
