North Korea’s Lazarus group is targeting cryptocurrency companies as well as financial services and cybersecurity firms to help fund their military initiatives, blockchain analytics firm Elliptic said in a new report published this week:
The biggest rise of cross-chain crime is apparent in the field of crypto thefts, scams and Ponzi schemes and illicit laundering perpetrated by North Korea’s Lazarus Group. This elite cybercrime organization alone is now responsible for approximately 1/7th of all cross-chain crime we are tracking, having laundered over $900 million through these methods.
Ken Westin, Field CISO, Panther Labs had this to say:
North Korea’s Lazarus group has been targeting cryptocurrency companies as well as financial services and cybersecurity firms to help fund their military initiatives, unlike other threat actors who often target executives, Lazarus has been targeting developers. Through social engineering attacks targeting developers their goal has been to gain access to privileged accounts and code repositories where they can steal secrets as well as compromise developers systems via malicious dependencies. Their efforts have proven to be quite lucrative so we can expect them to double down on their efforts. By targeting cryptocurrencies North Korea is able to circumvent financial sanctions and other limits imposed on the regime to fund their military efforts, taking advantage of the pseudo-anonymous nature of various cryptocurrencies.
North Korea is clearly a clear and present danger as they are clearly intent on doing whatever they need to do so that they can get around sanctions and make money. If you’re within their field of vision, you need to make sure that you’re as secure as possible in order to make sure that you’re not their next target.
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This entry was posted on October 7, 2023 at 9:12 am and is filed under Commentary. You can follow any responses to this entry through the RSS 2.0 feed.
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North Korea’s Lazarus Group Targets Cryptocurrency Companies
North Korea’s Lazarus group is targeting cryptocurrency companies as well as financial services and cybersecurity firms to help fund their military initiatives, blockchain analytics firm Elliptic said in a new report published this week:
The biggest rise of cross-chain crime is apparent in the field of crypto thefts, scams and Ponzi schemes and illicit laundering perpetrated by North Korea’s Lazarus Group. This elite cybercrime organization alone is now responsible for approximately 1/7th of all cross-chain crime we are tracking, having laundered over $900 million through these methods.
Ken Westin, Field CISO, Panther Labs had this to say:
North Korea’s Lazarus group has been targeting cryptocurrency companies as well as financial services and cybersecurity firms to help fund their military initiatives, unlike other threat actors who often target executives, Lazarus has been targeting developers. Through social engineering attacks targeting developers their goal has been to gain access to privileged accounts and code repositories where they can steal secrets as well as compromise developers systems via malicious dependencies. Their efforts have proven to be quite lucrative so we can expect them to double down on their efforts. By targeting cryptocurrencies North Korea is able to circumvent financial sanctions and other limits imposed on the regime to fund their military efforts, taking advantage of the pseudo-anonymous nature of various cryptocurrencies.
North Korea is clearly a clear and present danger as they are clearly intent on doing whatever they need to do so that they can get around sanctions and make money. If you’re within their field of vision, you need to make sure that you’re as secure as possible in order to make sure that you’re not their next target.
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This entry was posted on October 7, 2023 at 9:12 am and is filed under Commentary. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.