ZachXBT Leaks Seven Wallets Connected Lazarus Holding 891 BTC
ZachXBT recently identified seven wallet addresses holding approximately $61.8 million (891 BTC) connected to Lazarus Group hacks.
The latest wallet came after months of grueling investigation by the cybersecurity proponent. Nonetheless, the latest announcement came after he disclosed 3 wallets in connection with the hacking group.
Lazarus Group Laundered $200M From 25+ Crypto Hacks
The Lazarus Group, a notorious threat group linked to the North Korean government, has executed numerous cyberattacks, resulting in substantial cryptocurrency thefts.
In recent years, they have shifted their focus to targets within the cryptocurrency industry. The Lazarus Group initially gained prominence through high-profile cyberattacks such as the Sony Pictures hack in 2014 and the $81 million Bangladesh Bank heist in 2016.
According to estimates from analytics firms such as TRM and Chainalysis, the Lazarus Group has stolen between $3 billion to $4.1 billion in cryptocurrencies since 2017.
Notable freezing actions include $374,000 in USDT in November 2023, undisclosed amounts at centralized exchanges in Q4 2023, and $3.4 million by three stablecoin issuers.
Furthermore, the impact of Lazarus Group’s attacks is far-reaching, affecting thousands of individuals and businesses. The investigation leading to these discoveries was made possible through the contributions of security researchers from organizations such as MetaMask, Binance, 5IS, and TRM Labs.
The research detailed in this article traces the movements of funds from 25 cryptocurrency hacks targeting companies and individuals between August 2020 and October 2023.
Moreover, by monitoring the flow of funds to P2P marketplaces where the Lazarus Group converts stolen cryptocurrencies into fiat currency, investigators have identified the additional wallet addresses linked to these illicit activities.
Researchers Trace Atomic Wallet Hack to North Korea’s Lazarus
Thorough investigations conducted by security researcher ZachXBT revealed that the attackers targeted a wide range of cryptocurrencies, including bitcoin (BTC), ether (ETH), tether (USDT), dogecoin (DOGE), litecoin (LTC), BNB coin (BNB), polygon (MATIC), and USDT based on Tron. The stolen assets are worth over $35 million.
Previous cyberattacks attributed to Lazarus, such as the $625 million Axie Infinity hack, have involved exploiting vulnerabilities in third-party software or using social engineering tactics to gain access to user credentials. However, the specifics of the Atomic Wallet breach are still under investigation.
Atomic Wallet has since implemented enhanced security measures to mitigate the impact of the incident and assure users of the safety of their funds. Additionally, be vigilant, regularly update your software, and store your crypto assets in cold wallets for enhanced protection.
