Recently, the US Treasury Department’s sanctions monitor sanctioned three North Koreans for giving support to the Lazarus Group. They are a prominent hacker group suspected of stealing bitcoins to fund the country’s weapons program. Two of the men, Cheng Hung Man and Wu Huihui, apparently arranged digital currency transactions for the organization as over-the-counter dealers. On the other hand, Sim Hyon Sop offered financial support in various ways.
For several years, the North Korean government-funded hacker operation Lazarus Group has been attacking the crypto industry. The organization is notorious for its sophisticated techniques and is suspected of stealing billions of dollars in digital assets. Furthermore, North Korea’s intelligence agency, the Reconnaissance General Bureau, apparently oversees the outfit and is said to be using stolen assets. These assets are used to fund the country’s weapons program.
(North Korean teens being taught how to use computers. Source: The Guardian)
One of the most notable Lazarus organization hacks was the 2018 hack of the Japanese cryptocurrency exchange Coincheck, in which the organization stole over $500 million in digital assets. Additionally, the organization has also been tied to other cryptocurrency exchange hacks.
Additionally, the Lazarus Group according to the US Treasury Department, is a North Korean hacking squad that has allegedly stolen billions of dollars from the cryptocurrency business. Moreover, with the earnings supposedly used to fund the country’s weapons program. In addition, North Korea’s intelligence agency, the Reconnaissance General Bureau, apparently oversees the organization notorious for its sophisticated techniques. Which has been suspected of stealing billions of dollars in digital assets in various attacks. The outfit is said to be using stolen monies to fund the country’s weapons program.