Hidden cobra lazarus group11/11/2023 ![]() (See “ Now we know who’s behind one of the largest crypto Lazarus has been tied to several such scams, and just this year it impersonated military contractor Lockheed Martin to lure job applicants to click on malicious links. Posing as a company that offered high-paying posts for engineers, the criminal gang enticed one candidate to click on a PDF that initiated an infection chain that opened How did it find its way into the Ronin network? Simple. To date in the decentralized finance (DeFi) space and the second biggest crypto theft of all time. When the Lazarus Group, a North Korean state-controlled hacking group, stole up to $625 million of digital tokens earlier this year from the Ronin network that supports Axie Infinity, a popular play-to-earn game, it marked the largest cyberattack Latest technology and what they need to know to stop them. Here’s what fraud examiners can learn from the authoritarian regime’s tricks to exploit the That said, increased regulation and oversight likely will be required because the number of people participating won't grow significantly as long as they can get robbed without recourse.North Korean state-sponsored cyberfraudsters are attracting increasing attention and, so far, have been outsmarting the government authorities pursuing them. ![]() "For however long the cryptocurrency and DeFi industry fights increasing regulation, thieves like this North Korean hacking group will continue to take advantage." "Many within the cryptocurrency and DeFi industries are fighting these new methods of reversal because it begins to make the transactions more regulated-looking and closer to regular currency and banks, which much of the online industry inherently abhors," Grimes said. Given the large number of scams and thefts involving cryptocurrency and other DeFi projects, many of those groups are working on ways to reverse or limit the damage from theft and scams. The thief can just laugh in everyone's face and say, 'Sorry about your bad luck.'" Most cryptocurrencies and their related blockchains don't have a mechanism for reversing a transfer of value even if that transfer was illegal or unethical in every conceivable way. The holder of bearer bonds is the 'lawful' owner of the bonds and their associated value even if they were stolen. "Cryptocurrencies are more like bearer bonds. "With traditional finance, if someone steals something of value, it's fairly easy to identify the theft, reverse the transaction and make the victim whole again," Grimes said. A key reason is that it's hard to reverse the situation when an attack has occurred. ![]() Roger Grimes, data-driven defense evangelist at security awareness training company KnowBe4, told The Register that North Korean hacking groups have long targeted traditional finance funds and now are eyeing cryptocurrencies. North Korean hacking groups targeting crypto Three US agencies in April issued an alert about Lazarus's growing interest in the cryptocurrency market, which the gang has targeted since at least 2020, and last year sent a warning about Lazarus's AppleJeus malware that was used to steal cryptocurrency. At the same time, the company put a $10 million bounty for information that leads to the funds being returned and the hackers arrested. They also reaffirmed the July 4 deadline for the hackers to return the crypto assets anonymously and keeping $10 million of it. In their latest update this week, Harmony officials wrote that a "global manhunt for the criminal(s)" is under way, that all exchanges have been notified, and that law enforcement and Harmony partners Chainalysis and AnChainAI are investigating. FBI warns of North Korean cyberspies posing as foreign IT workers.South Korean and US presidents gang up on North Korea's cyber-offensives.World Economic Forum wants a global map of online crime.More than $100m in cryptocurrency stolen from blockchain biz.The researchers also noted that the Horizon Bridge attack was done though compromised encryption keys of a multi-signature wallet that likely came via a social-engineering attack on Harmony employees, that many of the core team at US-based Harmony have links to the Asia-Pacific region, and that the times the stolen funds were not being moved out of Tornado Cash are consistent with nighttime hours in that region.Īll those indicators point the finger at Lazarus, they wrote.
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