Lazarus Group’s $240 Million Crypto Heist Shocks with 104-Day Streak

Key Points:

• Lazarus Group orchestrates five major crypto hacks in 3 months, targeting centralized platforms.
• Estimated $240 million stolen in 104 days, showcasing Lazarus Group’s escalating cyber prowess.
• Urgent call for enhanced cybersecurity as crypto community grapples with persistent threats.

In a recent report released by blockchain monitoring platform Elliptic, alarming details have emerged regarding the involvement of the notorious North Korean hacker group Lazarus Group in a series of major cryptocurrency hacks.

Lazarus Group has been attributed to five significant encryption breaches, with the latest attack targeting cryptocurrency betting platform Stake.com.

The hacking spree began in June with an assault on Atomic Wallet, followed by attacks on payments firms Alphapo and CoinsPaid in July. Most recently, Lazarus Group struck again with the encryption attack on Stake.com, further raising concerns about the group’s audacity and capabilities.

Elliptic’s findings reveal that the Lazarus managed to pilfer an astonishing sum of nearly $240 million in cryptocurrency within a mere 104 days. This brazen and highly successful campaign underscores the group’s increasing expertise in the world of cybercrime.

What is particularly concerning is Lazarus Group’s shift towards targeting centralized platforms rather than decentralized ones. This shift suggests a calculated strategy change, potentially driven by the belief that centralized platforms are more vulnerable to social engineering attacks.

The Lazarus Group has been responsible for a string of high-profile cyberattacks in the past. This includes the infamous WannaCry ransomware attack in 2017, which disrupted organizations worldwide. Their latest exploits indicate that they continue to pose a significant threat to the global cryptocurrency ecosystem.

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