Reports from credible cybersecurity firms or major financial news outlets

North Korea's Lazarus Group Steals $1.34 Billion in Crypto Heists, Targets Blockchain Industry

Jan 14, 2025, 01:09 PM

North Korean hackers, including the Lazarus Group, stole over $1.34 billion in cryptocurrency through 47 heists in 2024, marking a 102% increase from the previous year. The US, Japan, and South Korea have issued a joint statement warning of the rising threat of North Korean cyber attacks, particularly targeting the blockchain industry. The statement attributes several major heists to North Korea, including a $235 million theft from WazirX, India's largest cryptocurrency exchange, and other significant breaches such as $308 million from DMM Bitcoin, $50 million each from Upbit and Radiant Capital, and $16.13 million from Rain Management. The Lazarus Group used sophisticated methods like social engineering and deploying malware to steal digital assets, with the stolen funds believed to be used to finance North Korea's military and weapons programs, posing a significant threat to global cybersecurity and the international financial system.