Huge $540 Million Crypto Heist Reportedly Came From North Korea


The United States suspects North Korea of ​​being behind the computer attack which caused the theft of more than half a billion euros in cryptocurrencies.

It’s at the end of March. The Ronin platform, which provides services in the world of crypto-currencies, announced that it had been the victim of a computer attack. The goal was not to bring this network down, but to steal cryptos from it. The operation was crowned with success, as the breakage was estimated at 540 million euros. Almost a record.

Washington suspects Pyongyang

Two weeks later, a composite portrait of the attackers took shape. According to the United States, the Lazarus hacker group is responsible for the attack. This is the conclusion reached by the FBI, reports the Ronin platform in a progress report on April 14. For its part, the Treasury Department has blacklisted addresses that were used to transfer the stolen funds.

The statement from the US Treasury shows that Lazarus is a structure that is linked to the North Korean regime, which is not new to anyone who follows the activity of the cyber world. Lazarus is a name that comes up regularly in the news, such as during the WannaCry ransomware affair in 2017, or the Sony hack in 2014.

The attack against the Ronin platform was used in particular to steal ethers, the value of which has soared in recent years. // Source: Ethereum

Lazarus’ way of doing things suggests that this group is a way for Pyongyang to fund itself, despite international sanctions. The targets or modus operandi of this collective show an inclination to recover money, by stealing crypto-currencies, by attacking the financial sector, by using ransomware or by infiltrating banking networks.

These robberies allow Kim Jong-un’s regime to stay afloat and pursue its military nuclear program. The theft of cryptocurrencies that targeted the Ronin platform supports this reading, this time with a loot of more than half a billion euros. Given the success of cryptos, and the value they can take, Lazarus should not be unemployed.

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The use of crypto wallets could be tightly controlled // Source: Tezos / Unsplash



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