Lazarus Group moves over a million in Bitcoin from coin mixer

The North Korean hacking entity, known as the Lazarus Group, has recently executed a substantial transaction, moving $1.2 million worth of cryptocurrencies. This move marks their largest financial activity in over a month. Analysis by blockchain firm Arkham revealed that their wallet received a total of 27.371 bitcoins in two separate transactions. Subsequently, 3.34 bitcoins were transferred to another wallet previously utilized by the group. The involved coin mixer, a tool typically used to obfuscate the origins of cryptocurrencies, remains unidentified.

The broader impact of Lazarus Group’s activities

This recent transaction is part of a larger pattern of cybercriminal activities attributed to the Lazarus Group. Over the past three years, they are believed to have orchestrated cryptocurrency heists amounting to approximately $3 billion. Notably, the U.S. Treasury Department linked the group to a significant theft of $600 million cryptocurrency from the Ronin bridge, connected to the popular game Axie Infinity.

Further emphasizing their prominent role in the digital currency space, a report from TRM Labs highlighted that in 2023, hackers affiliated with North Korea, including the Lazarus Group, were responsible for a third of all cryptocurrency exploits and thefts. These illicit activities amassed around $600 million.

As of now, the Lazarus Group’s wallet holds an estimated $79 million in cryptocurrencies. This sum includes $73 million in bitcoin and $3.4 million in ether. These figures underscore the substantial financial impact of their operations on the crypto market.

Patterns and precautions in cryptocurrency security

The recent activities of the Lazarus Group underscore ongoing concerns about the security of digital assets. Metamask developer Taylor Monahan pointed out that the Orbit attack, which led to an $81 million loss, bore similarities to previous operations by the group. This observation highlights the importance of heightened vigilance and advanced security measures in the cryptocurrency community.

Overall, the Lazarus Group’s latest transaction and their ongoing involvement in significant cryptocurrency heists serve as a reminder of the challenges faced in ensuring the security and integrity of digital assets. As the crypto market continues to evolve, both users and platforms must remain alert to these threats and continue to bolster their defenses against such sophisticated cybercriminal activities.

The post Lazarus Group moves over a million in Bitcoin from coin mixer first appeared on Coinfea.