FBI: Lazarus Responsible for $41 Million Stake Hack

By Philip Maina

7 days agoSat Sep 09 2023 07:08:42

FBI-Lazarus-Responsible-for-$41-Million-Stake-Hack

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  • The FBI has linked the recent $41 million hack of crypto casino Stake to the North Korean hacking group Lazarus
  • The investigations body revealed the group transferred the stolen funds to over 30 wallets
  • Stake was hacked this week and resumed withdrawals within a few hours after the incident

The North Korean hacking group Lazarus continues to fleece crypto platforms with crypto casino Stake being the recent victim losing $41 million three days ago. According to the FBI, the hackers transferred the illicit funds to over 30 wallets on different blockchains such as Bitcoin, Ethereum and Binance Smart Chain. The investigations body said that the group has stolen over $200 million so far this year, an indication that it’s likely to reign more havoc in the crypto space before the end of the year.

Exchanges Take Note

In an announcementthe FBI also said that Lazarus is responsible for the Alphapo wallet hack that saw over $60 million siphoned from the platform two months ago and has urged private entities such as crypto exchanges to block transactions linked to the wallets associated with the hacking group.

The security agency has been expressing interest in the web3 world and occasionally publishes warnings on ongoing crypto scamshacks and other malicious activities in the space. Two years ago, for example, it cautioned crypto users against an increase in hacking activities employing identity theft and sim swap techniques.

Lazarus Hacked Atomic Wallet and Ronin Network

Two weeks ago, it warned crypto exchanges that North Korean hackers are planning to offload approximately $40 million worth of stolen Bitcoin (BTC). Apart from issuing alerts, the agency has also seized stolen funds such as the 151 BTC recovered from phone scammers.

The Lazarus hacking group has also been associated with the Atomic Wallet, Harmony and Ronin hacks that have led to losses of over $600 million across the three platforms.

With the hacking group’s wallets revealed, it’s to be seen whether exchanges will be able to block the movement of funds from these wallets.

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