The Federal Bureau of Investigation (FBI) in the United States has recently identified six Bitcoin (BTC) wallets that are linked to the North Korean state-backed hacking group known as Lazarus. These wallets contain a total of 1,580 BTC, which is equivalent to approximately $40 million. It is believed that these funds were acquired through various cryptocurrency hacks that occurred over the past year.
The FBI’s investigation revealed that the Lazarus Group has been involved in moving around 1,580 BTC that is connected to several crypto exploits. The funds are currently held in six different Bitcoin addresses. The FBI has urged cryptocurrency companies to be vigilant and monitor the movements of these funds, as it could indicate that the hacking group is looking to sell them. The agency advised companies to analyze the blockchain data associated with the identified Bitcoin addresses and take precautionary measures against engaging in transactions directly or indirectly associated with these addresses.
Lazarus Group has a long history of engaging in crypto-related exploits, and it has successfully stolen billions of dollars’ worth of crypto assets in the past. A report from TRM Labs suggests that the group has stolen nearly $2 billion in crypto assets since 2018. In 2022, the group was particularly active and managed to steal close to $1 billion worth of crypto assets.
Last year, Lazarus Group was identified as the mastermind behind major decentralized finance (DeFi) exploits. They were responsible for both the Harmony’s Horizon bridge and the $625-million hack on Ethereum-linked sidechain Ronin Bridge. These incidents highlighted the vulnerabilities in DeFi platforms and protocols.
Although hackers have become more sophisticated in their methods and have exploited vulnerabilities in code, blockchain technology has made it challenging for them to launder or move their stolen funds. The public ledger nature of blockchain allows for the tracking of fund movements, which has proven beneficial in tackling these types of crimes.
Law enforcement agencies, including the FBI, have collaborated with crypto companies in the past to freeze funds connected to such exploits. For example, in February of this year, Huobi and Binance froze $1.4 million worth of crypto assets that were linked to North Korean hackers. Additionally, crypto exchanges also froze $63 million worth of assets related to the Harmony Bridge hack.
By working together, law enforcement agencies and crypto companies aim to prevent hackers from profiting from their illicit activities and send a strong message that such behavior will not be tolerated in the industry.
In summary, the FBI has identified six Bitcoin wallets linked to the North Korean hacking group Lazarus. These wallets contain 1,580 BTC, estimated to be worth $40 million. The FBI has urged crypto companies to be cautious of any movements of these funds and to use blockchain data for monitoring. Lazarus Group has a history of significant crypto exploits and has stolen billions of dollars in crypto assets. However, blockchain technology has made it difficult for hackers to launder their gains. Law enforcement agencies and crypto companies have previously frozen funds linked to such exploits as part of their efforts to combat these crimes.
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