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North Korean Hacking Group Lazarus Increases Crypto Hacking Attacks Amid Coronavirus

Lazarus Crypto Hacking

The infamous hacking group based in North Korea, Lazarus, has increased its stealing activities amid Coronavirus. The new report claims that they are mostly attacking the crypto industry and are taking advantage of economic turmoil in the world. The hacking group is backed by the government of North Korea that is infamous for hacking attacks on Sony Pictures in 2014 and on Bangladesh bank in 2016. Lazarus also attacked various crypto exchanges and hacked million of dollars.

APT Attacks on Cryptocurrency

The major target of these attacks is the cryptocurrency and the ones who are working in the crypto sector. This is not the first time Lazarus is attacking the crypto companies and the people who hold the cryptocurrency. And they are not just limited to one country or region as they are organizing cyber attacks irrespective of country. “Lazarus is carrying out APT attacks not only in South Korea but also in the international sphere, including the United States. They are also engaging in cyber-espionage operations as well as activities designed to generate foreign currency,” the document reads.

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The report says:

“The APT (adaptive persistent threats) hacking group Lazarus, which is allegedly sponsored by a certain government [North Korea], is increasingly engaging in cybercrime activities in and out of South Korea.”

The report further explains that “malicious emails used in these attacks mention companies that provide electronic payment services. The hackers attached malicious files disguised as blockchain software development contracts from those payment companies and induced the targets into opening them.”

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It is easy to hack crypto companies such as exchanges rather than traditional banks. That’s the reason why their target is cryptocurrency. In the US Treasury Department’s report “National Strategy for Combating Terrorist and Other Illicit Financing 2020”, it is mentioned that the three major hacking groups including Lazarus stole cryptocurrency worth 571 million from 2017 to 2018.

Backed by North Korea’s Government

As reported earlier, the group is controlled and backed by the North Korean government, and the hacked money is used in the nuclear power projects of the country. Besides Lazarus, other infamous groups are also busy in cyber-attacks including Koni, Kimsuky, and Gumsong 121.

Per the report, the security experts emphasize that we should take a joint step against the North Korean cyberattacks. Mun Chong Hyun, the head of the ESTsecurity Security Response Center (ESRC), said:

“It is important that we systematically study these organizations and take countermeasures against them.”

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