Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
FBI identifies six Bitcoin wallets associated with North Korea, advises caution for cryptocurrency companies.
The Federal Bureau of Investigation (FBI) in the United States has identified six Bitcoin (BTC) wallets associated with the North Korean state-sponsored hacking organization Lazarus. These wallets hold 1,580 BTC, valued at $40 million, which is believed to have been accumulated from various cryptocurrency hacks over the previous year.
During its investigation, the FBI discovered that the Lazarus Group transferred around 1,580 BTC connected to multiple crypto-related exploits. The funds are currently located in the following Bitcoin addresses:
- 3LU8wRu4ZnXP4UM8Yo6kkTiGHM9BubgyiG
- 39idqitN9tYNmq3wYanwg3MitFB5TZCjWu
- 3AAUBbKJorvNhEUFhKnep9YTwmZECxE4Nk
- 3PjNaSeP8GzLjGeu51JR19Q2Lu8W2Te9oc
- 3NbdrezMzAVVfXv5MTQJn4hWqKhYCTCJoB
- 34VXKa5upLWVYMXmgid6bFM4BaQXHxSUoL
The FBI cautioned cryptocurrency firms that the transfer of funds associated with the notorious North Korean hacking group might indicate an intention to sell. The federal agency recommended that crypto companies monitor the six BTC wallets and utilize blockchain data to track any fund movements.
“Private sector entities should examine the blockchain data associated with these addresses and be vigilant in guarding against transactions directly with, or derived from, the addresses.”
Related Posts
The North Korean hacking group has been actively engaged in numerous crypto-related exploits over the years, stealing billions of dollars in cryptocurrency assets. A recent report from TRM Labs indicates that North Korean hackers have taken nearly $2 billion in crypto since 2018. The group was particularly active in 2022, reportedly stealing close to $1 billion in crypto assets that year alone.
The year 2022 witnessed some of the largest decentralized finance (DeFi) exploits, with the Lazarus Group being recognized as the orchestrator behind the Harmony’s Horizon bridge and Sky Mavis’ $625 million hack on the Ethereum-linked sidechain Ronin Bridge last year.
Related: ‘Nobody is holding them back’ — North Korean cyber-attack threat rises
Despite the rise in crypto-related exploits due to vulnerabilities in platforms and protocols, the nature of blockchain technology complicates the efforts of exploiters to launder or transfer their illicit gains, as the public ledger allows for the tracking of fund movements.
Law enforcement bodies like the FBI, in collaboration with cryptocurrency firms, have previously worked together to freeze funds associated with such exploits. Earlier in February this year, Huobi and Binance froze $1.4 million in crypto assets tied to North Korea. Likewise, $63 million in assets linked to the Harmony Bridge hack was also frozen by cryptocurrency exchanges.
Magazine: Deposit risk: What do crypto exchanges really do with your money?
