North Korea’s notorious Lazarus hacking group has once again made headlines with two new attacks on cryptocurrency firms resulting in the theft of nearly $100 million in virtual currency.
One of the targeted companies, Tallinn-based payments gateway CoinsPaid, disclosed that $37.3 million was stolen in the attack. Despite the significant loss, the firm emphasized that customer funds remained secure, thanks to the swift response of its dedicated team of experts who worked tirelessly to fortify the system and minimize the impact of the breach.
CoinsPaid CEO, Max Krupyshev, stated, “We believe Lazarus expected the attack on CoinsPaid to be much more successful. Our security measures and procedures allowed us to prevent higher losses, leaving Lazarus with a record-low reward.”
Following the attack, the platform experienced some downtime, but services are gradually being restored in a new secured environment. Krupyshev reassured customers that the team is working diligently to ensure the system runs smoothly and securely in the coming days.
While CoinsPaid did not provide specific details on how they attributed the attack to Lazarus, the company revealed that it promptly tracked the movement of the stolen cryptocurrency using various blockchain analytics tools.
In a separate incident, Lazarus was also implicated in a larger heist on crypto payments provider Alphapo, where hot wallets were drained of $60 million in Ethereum, Tron, and Bitcoin. Blockchain expert @ZachXBT pointed out the distinct fingerprint left by Lazarus in such attacks, indicating their involvement in the Alphapo breach.
The recent spate of attacks underscores the ongoing threat posed by cybercriminals, particularly state-sponsored groups like Lazarus, to the cryptocurrency industry. As companies continue to bolster their security measures, vigilance and proactive measures are essential to combat such sophisticated threats and protect digital assets from falling into the wrong hands.