The Federal Bureau of Investigation (FBI) has revealed that the recent $41 million hack of crypto gambling site Stake was carried out by the North Korean Lazarus Group. The FBI’s announcement on September 7 also stated that this group has already stolen more than $200 million of cryptocurrency in 2023.
Stake is a popular platform that offers a variety of casino games and sports betting options to its users. Unfortunately, on September 4, the platform fell victim to a cyberattack that resulted in the theft of over $41 million worth of cryptocurrency from its hot wallets. However, the Stake team reassured its users that the hacker only gained access to a small percentage of funds and that the incident would not directly affect users.
Following an investigation, the FBI has determined that the Lazarus Group, a notorious cybercrime organization believed to have ties to North Korea, was responsible for the attack. The agency has identified the addresses where the stolen funds are currently held. These addresses exist on popular blockchain networks such as Bitcoin, Ethereum, BNB Smart Chain, and Polygon. In light of this, the FBI advises all crypto protocols and businesses to review the addresses involved in the hack and to exercise caution when transacting with them.
In addition to the Stake hack, the FBI has linked the Lazarus Group to other major cyberattacks throughout 2023. The agency attributes the Alphapo, CoinsPaid, and Atomic Wallet hacks to the same group. Collectively, losses from these attacks have surpassed $200 million. Alphapo, a payment processor, experienced suspicious withdrawals totaling over $65 million on July 23. CoinsPaid, another payments firm, lost more than $37 million through social engineering in late July. In June, users of the Atomic Wallet suffered a staggering loss of $100 million due to an unknown exploit.
The FBI’s identification of the Lazarus Group as the perpetrators of these attacks sheds light on the increasing sophistication and prevalence of cybercrime in the world of cryptocurrency. It serves as a reminder to crypto protocols and businesses to enhance their security measures and remain vigilant against potential threats. The agency’s recommendation to avoid transactions with the identified addresses associated with the Lazarus Group emphasizes the importance of ensuring the integrity of the blockchain network.
As the cryptocurrency industry continues to gain mainstream adoption, it is crucial for users, businesses, and law enforcement agencies to collaborate closely in combating cyber threats. The FBI’s efforts in investigating and attributing these attacks to the Lazarus Group are essential in deterring future criminal activities and safeguarding the integrity of the cryptocurrency ecosystem.
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