Lazarus Group’s Cryptocurrency Thefts Reach $240 Million with CoinEx Heist

Image courtesy of CERTIK

September 17, 2023.

The Lazarus Group, affiliated with North Korea, has escalated its cryptocurrency theft activities, stealing nearly $240 million since June 2023. The group is suspected of being behind a $31 million digital asset theft from CoinEx on September 12, 2023, adding to its recent attacks on Atomic Wallet, CoinsPaid, Alphapo, and The shift from decentralized to centralized services indicates the group’s adaptation to improved security measures in the DeFi space. North Korea has used cryptocurrency thefts to circumvent sanctions and fund its weapons programs, with the latest surge coinciding with increased cyber attacks on cryptocurrency-related businesses. The group has also been linked to software supply chain attacks targeting various companies.

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