North Korean Lazarus Group Targets Crypto Scam Through Fake LinkedIn Accounts
Key Points:
- North Korean Lazarus group targeted the crypto industry via LinkedIn, stealing $3 billion in 6 years.
- $1.1 billion of the stolen funds came from DeFi platforms.
- US Treasury sanctions ‘Sinbad’ for laundering Lazarus’s stolen crypto.
According to cybersecurity experts, the North Korean Lazarus group has been employing sophisticated tactics to target individuals in the cryptocurrency industry.
North Korean Lazarus Group Targets Crypto Sector Via LinkedIn
SlowMist security researcher @im23pds revealed that Lazarus masqueraded as a Fenbushi Capital partner on LinkedIn, engaging in phishing campaigns under the guise of investment opportunities and meetings.
Notorious for its cyberattacks, the North Korean Lazarus group has a history of targeting the crypto sector, with notable incidents including the $600 million hack of the Ronin Network in March 2022. Recorded Future’s report indicates that over the past six years, Lazarus has siphoned off a staggering $3 billion in cryptocurrency.
Chainalysis further breaks down the figures, highlighting that $1.1 billion was stolen from decentralized finance (DeFi) platforms. This aligns with findings from a U.S. Department of Homeland Security (DHS) report, which underscores Lazarus’s exploitation of DeFi protocols.
US Treasury Takes Action: Sanctions Imposed on Crypto Laundering Suspect
In response to these nefarious activities, the U.S. Treasury Department has imposed new sanctions targeting North Korea’s cyber operations. ‘Sinbad,’ implicated in laundering cryptocurrencies stolen by Lazarus, has been added to the Office of Foreign Assets Control’s specially designated sanctions list.
The Lazarus group’s aggressive pursuit of illicit gains underscores the ongoing challenges facing the cryptocurrency industry in combating cyber threats. As authorities ramp up efforts to disrupt these criminal networks, vigilance, and robust cybersecurity measures remain paramount for individuals and businesses operating in the digital asset space.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Author
News
North Korean Lazarus Group Targets Crypto Scam Through Fake LinkedIn Accounts
Key Points:
- North Korean Lazarus group targeted the crypto industry via LinkedIn, stealing $3 billion in 6 years.
- $1.1 billion of the stolen funds came from DeFi platforms.
- US Treasury sanctions ‘Sinbad’ for laundering Lazarus’s stolen crypto.
According to cybersecurity experts, the North Korean Lazarus group has been employing sophisticated tactics to target individuals in the cryptocurrency industry.
North Korean Lazarus Group Targets Crypto Sector Via LinkedIn
SlowMist security researcher @im23pds revealed that Lazarus masqueraded as a Fenbushi Capital partner on LinkedIn, engaging in phishing campaigns under the guise of investment opportunities and meetings.
Notorious for its cyberattacks, the North Korean Lazarus group has a history of targeting the crypto sector, with notable incidents including the $600 million hack of the Ronin Network in March 2022. Recorded Future’s report indicates that over the past six years, Lazarus has siphoned off a staggering $3 billion in cryptocurrency.
Chainalysis further breaks down the figures, highlighting that $1.1 billion was stolen from decentralized finance (DeFi) platforms. This aligns with findings from a U.S. Department of Homeland Security (DHS) report, which underscores Lazarus’s exploitation of DeFi protocols.
US Treasury Takes Action: Sanctions Imposed on Crypto Laundering Suspect
In response to these nefarious activities, the U.S. Treasury Department has imposed new sanctions targeting North Korea’s cyber operations. ‘Sinbad,’ implicated in laundering cryptocurrencies stolen by Lazarus, has been added to the Office of Foreign Assets Control’s specially designated sanctions list.
The Lazarus group’s aggressive pursuit of illicit gains underscores the ongoing challenges facing the cryptocurrency industry in combating cyber threats. As authorities ramp up efforts to disrupt these criminal networks, vigilance, and robust cybersecurity measures remain paramount for individuals and businesses operating in the digital asset space.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Other Posts
Related Posts
Latest
Best Altcoins to Buy Now: Qubetics Set For Weekly 10% Rise and Polygon Banks on Whale Activity Amid Avalanche Token Release
💥 100x Potential Unlocked! Discover This Cheap Altcoin With Massive Bullish Momentum!
Investor Who Profited $165M From Ethereum Picks 5 Altcoins for a $25M Portfolio—Meme Coins Steal the Show!
Press Release
Best Altcoins to Buy Now: Qubetics Set For Weekly 10% Rise and Polygon Banks on Whale Activity Amid Avalanche Token Release
BlockDAG’s Security Boost with KKAK-256: $142.5M in Presale Surpasses Polkadot’s Price Target Hype & Polkadot’s Latest Update
