North Korean Hackers Use Sophisticated Techniques For Laundering Crypto

The North Korean hackers use sophisticated techniques for laundering cryptocurrencies and the Lazarus Group will continue to adapt the tactics in order to attack companies from the crypto and other financial sectors as per the latest reports that we have in our latest crypto news.

According to the analysis, the North Korean hackers use sophisticated techniques, and especially the Lazarus Group use advanced methods to steal and launder crypto with teh gang showing remarkable adaptation to evolving regulation. While Russia and China captivate the attention of most governments concerned about cyber security, the North Korean regime is emerging as the leader in such attacks. The Center for a New American Security warned about a North Korean-led cybercrime organization known as the Lazarus Group and the latter transformed from a “rouge team of hackers to a masterful army of cybercriminals and foreign affiliates that steal hundreds of millions of dollars worth of crypto.” the CNAS report also reminded that teh organization stole more than $300 million worth of digital assets in 2020 from the KuCoin crypto exchange.

The US think tank also pointed out these sophisticated hacking techniques that are deployed by the gang:

“This major intrusion included a range of sophisticated hacking and laundering techniques, including a professional mixing service and the use of new DeFi platforms in an attempt to obfuscate the activity.”

The Lazarus Group didn’t mix the assets that were stolen sufficiently and made it easy for the law enforcement to trace the attack:

“Although the hackers used different Bitcoin addresses to move the stolen funds, they still combined them into a handful of clusters, making it easier to link their ownership to a single origin.”

According to the analysis led by Chainalaysis, the cybercriminals stole about $400 million worth of crypto and the bad actors all collected the funds after attacking the exchanges and investment companies. BTC accounted for 20% of the stolen assets while ETEH made up more than half of the loot with 58% while the remaining 22% belonged to other altcoins and ERC-20 tokens. Despite the sanctions from the USA, North Korea is working on a nuclear power program and the UN accused the Asian state of funding the missile trials with stolen digital assets. The organization also noted that teh country had nine nuclear experiments in January alone and the biggest number of tests in the nation’s history carried out in one month:

“DPRK demonstrated increased capabilities for rapid deployment, wide mobility (including at sea), and improved resilience of its missile forces.”