In a shocking revelation, cybersecurity firm Cyfirma has identified the North Korean hacker group Lazarus as the mastermind behind the $235 million WazirX hack.
A group of North Korean hackers stole $235 million from WazirX, The hackers took many different kinds of money, like Shiba Inu, Ether, Matic, and Pepe. People think the hackers are using this money to help North Korea build weapons.
WazirX Hack: Hackers Steal $235M in Crypto, Shiba Inu Hit Hardest
The stolen assets included over 200 different cryptocurrencies, with significant amounts lost in several key tokens. Approximately $96.7 million in Shiba Inu, $52.6 million in Ether, $11 million in Matic, and $7.6 million in Pepe were among the stolen funds. The hackers have already begun converting some of these tokens into Ether through various decentralized services, which is a common first step in laundering stolen assets.
WazirX Hack: Tactics Behind WazirX Heist
The attacks were done by two subgroups of the Lazarus Group: APT38 and Blue Noroff. APT38 specializes in financial crimes, attacking banks and cryptocurrency exchanges with custom malware and spear-phishing. Blue Noroff targets financial institutions and crypto exchanges using phishing, malware, and social engineering tactics.
North Korea’s Crypto Funding for Weapons
Kumar Ritesh,CEO and Founder of Cyfirma , said these heists have been happening for years, with major attacks since 2017. They have targeted countries like South Korea, Japan, and the United States. The main goal is to generate money for the North Korean regime. The stolen cryptocurrency is often used to fund their weapons programs and avoid international sanctions.
Identifying the Lazarus Group as the culprits behind the $235 million WazirX hack shows the growing threat of state-sponsored cybercrime in the crypto world. This attack highlights the vulnerability of crypto exchanges and how cyber theft funds North Korea’s weapons programs. As the industry grows, it’s crucial for exchanges and users to prioritize security and stay alert to these sophisticated threats.
Also Read: WazirX Hack Recovery Plan Impractical?
