One could interpret Lazarus’s transfer of 1,580 BTC to six addresses as the beginning of a future sale.
North Korean hackers could sell approximately 1,600 stolen BTC: The Lazarus Group, a North Korean cyber collective, had stolen millions of dollars worth of cryptocurrencies through various attacks in recent years, according to the US Federal Bureau of Investigation (FBI).
The security service thinks the criminals will soon be able to withdraw 1,580 BTC, which is currently worth roughly $41 million.
Stay Focused on the Lazarus’ Actions
The FBI issued a statement to inform bitcoin companies of a probable action that Lazarus (APT38) will conduct.
According to law enforcement, North Korean hackers sent 1,580 of their BTC to multiple previous thefts, to six locations. The FBI believes that this action is a precursor to a future sale of those assets, now valued at $40.8 million.” Private sector firms should look into the blockchain information linked to these addresses. So, further precautions to prevent transactions made directly with or using the lessons. The DPRK uses illegal operations, such as cybercrime and virtual currency theft, to make money for the dictatorship, which the FBI will continue to uncover and oppose.
Hackers could sell approximately millions of dollars. Over the previous few years, Lazarus has indulged to several crypto heists. The heist includes one of the biggest in the field: the $600 million Ronin Bridge exploit. The FBI stated that they are accountable for the $60 million theft of digital currencies from Alphapo in June of this year. And an other the $100 million loss caused by the hack of Harmony’s Horizon bridge in 2022.
The Lazarus Group: North Korea’s Cyber Weapon
Over the past ten years, the Pyongyang-controlled cybercrime organization has garnered numerous headlines. The organization was founded in 2009 for cyberespionage, claims Wikipedia. The gang changed its direction as the cryptocurrency industry developed, concentrating on exchanges and various platforms to steal digital assets from them.
The Lazarus hackers could sell approximately billions of dollars. They are skilled at introducing malware onto servers and computer networks. The CNAS warned about the group’s use of advanced hacking and money-laundering methods last year. “This major intrusion included a range of sophisticated hacking and money-laundering techniques. It also includes a professional mixing service and new DeFi platforms to obfuscate the activity.”
This year, a White House representative went one step further. He claimed North Korea used money from Lazarus to pay for 50% of its missile testing. According to Chainalysis, a blockchain analytics company, the organization will have embezzled cryptocurrency worth over $1.7 billion in 2022.