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The Federal Bureau of Investigation (FBI) has flagged six Bitcoin wallets linked to the North Korean state-sponsored hacking group Lazarus. These wallets contain 1,580 Bitcoins worth $40 million, believed to have been obtained from various cryptocurrency hacks over the past year.
6 BTC Wallets Worth $40 Million
The FBI has warned crypto companies that the wallet movements of funds linked to the notorious North Korean hacking group could be a sign that they are looking to sell. The federal investigative agency advised crypto companies to monitor the six BTC wallets and use blockchain data to track any fund movements.
In its investigation, the FBI found that the Lazarus group has been carrying approximately 1,580 BTC associated with various crypto exploits. These funds are currently held in the following Bitcoin addresses:
– 3LU8wRu4ZnXP4UM8Yo6kkTiGHM9BubgyiG
– 39idqitN9tYNmq3wYanwg3MitFB5TZCjWu
– 3AAUBbKJorvNhEUFhKnep9YTwmZECxE4Nk
– 3PjNaSeP8GzLjGeu51JR19Q2Lu8W2Te9oc
– 3NbdrezMzAVVfXv5MTQJn4hWqKhYCTCJoB
– 34VXKa5upLWVYMXmgid6bFM4BaQXHxSUoL
“Private sector organizations should examine blockchain data associated with these addresses and remain vigilant against transactions involving these addresses or derived from them.”
Over the years, the North Korean hacker group has been actively involved in numerous cryptocurrency-related exploits, stealing billions of dollars worth of crypto assets. A recent report by TRM Labs reveals that North Korean hackers have stolen approximately $2 billion in crypto since 2018. In their most active year, 2022, the group stole crypto assets worth around $1 billion.
Serious Security Concerns
In 2022, some of the largest decentralized finance (DeFi) exploits occurred, and the Lazarus group was identified as the mastermind behind the $625 million hack on Harmony’s Horizon bridge and the $625 million hack on Sky Mavis’ Ronin Bridge, both Ethereum-related sidechains.
While crypto-related exploits due to vulnerabilities in platforms and protocols have increased in complexity, blockchain technology still presents challenges for money laundering or moving gains for the exploiters, thanks to its publicly accessible ledger that enables fund tracking.
Law enforcement agencies like the FBI have worked with crypto companies in the past to freeze funds associated with such exploits through various means. In early February of this year, Huobi and Binance froze $1.4 million worth of crypto assets linked to North Korea. Similarly, crypto exchanges froze $63 million worth of assets associated with the Harmony Bridge hack.
