The Federal Bureau of Investigation has named the North Korea-affiliated Lazarus Group as the perpetrator of a $41-million virtual currency theft from Stake.com, a prominent online casino and betting platform.
What Happened: The heist, which took place around Sept. 4, is just one in a series of cybercrimes attributed to the Lazarus Group.
The timing of this revelation is particularly significant given the upcoming Benzinga Future of Digital Assets conference. The event promises to address the broader implications of such security breaches, especially in the rapidly evolving digital currency landscape.
Why It's Important: In 2023 alone, the Lazarus Group, also recognized as APT38, has been linked to thefts totaling over $200 million. This figure encompasses significant virtual currency thefts from platforms like Alphapo and CoinsPaid in July and a staggering $100 million from Atomic Wallet in June.
The FBI had previously alerted the public about North Korea's cyberattacks on Harmony’s Horizon Bridge and Sky Mavis’ Ronin Bridge and also issued a cybersecurity advisory concerning TraderTraitor.
Further cementing the nefarious reputation of the Lazarus Group, the U.S. Department of Treasury's Office of Foreign Assets Control sanctioned the organization in 2019.
Also Read: SEC To Approve Multiple Spot Bitcoin ETFs In October? JPMorgan Analysts Bets 'Yes'
Private entities are now being urged to be proactive in their cybersecurity efforts.
The FBI investigation said DPRK cyber actors moved stolen funds associated with the Ethereum ETH/USD, Binance Smart Chain, and Polygon MATIC/USD networks from Stake.com into several virtual currency addresses.
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