Lazarus Group: North Korea’s Cyber Menace Dominates Crypto Hacking in 2023

Despite a decline in major crypto hacking incidents this year, North Korea has sustained its impact on cybercrime, with the Lazarus hacker group linked to losses exceeding $300 million in 2023, constituting 17.6% of the year’s total losses, as per a report from blockchain security platform Immunefi.

Known for large-scale cyber attacks since 2014, Lazarus transitioned to targeting crypto protocols, including a $600 million hack on the Ronin Network in March 2022. The group’s activities fund around 50% of North Korea’s ballistic missile program, according to a Wall Street Journal investigation. Despite a slowdown in overall crypto exploits in 2023, Lazarus remains a serious threat, focusing on centralized finance platforms like CoinEx. Law enforcement is targeting crypto mixers associated with the group, exemplified by sanctions on in November. Amid continued crypto exploits, the U.S. Treasury is considering expanding regulatory oversight in the sector.


Disclaimer: Not Investment Advice

it’s crucial to understand that the information provided here is not to be construed as investment advice. The crypto market is dynamic and highly speculative, and decisions should be made based on thorough personal research and consideration of individual risk tolerance. Always consult with financial professionals and conduct your own due diligence before making any investment decisions. The intention of this exploration is to present insights and trends, not to provide specific investment recommendations.

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