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North Korean Lazarus Group Steals $34 Million From Crypto Startup, FBI Recovers $3.2 Million

Dec 19, 2024, 08:00 AM

North Korean hackers, identified as the Lazarus Group, have stolen $34 million from a cryptocurrency startup by posing as venture capitalists, according to the FBI. This marks a new tactic for the group, which has previously stolen over $3 billion from crypto startups since 2017. The hackers used a fake Telegram account to contact the startup's CEO in November 2023, tricking them into executing a script file that installed malware known as CryptoMimic. This malware provided the hackers with remote access to the startup's computers, allowing them to steal private keys for 5,000 addresses holding crypto tokens worth over $17 million. The FBI traced some of the stolen tokens to accounts on crypto exchanges Binance and MEXC, with $3.2 million of the cryptocurrency now in FBI custody. Additionally, North Korea-linked hackers accounted for 61% of all crypto stolen in 2024, totaling $1.34 billion across 47 incidents, as reported by Chainalysis.