North Korean hackers made off with nearly $41 million worth of cryptocurrency from online casinos and sports betting sites this week — money officials fear will be used to bolster the country’s nuclear weapons program ahead of an expected arms deal with Russia.
The FBI announced on Wednesday that it has traced the Stake.com hack back to North Korea and its state-sponsored Lazarus Group, which has stolen more than $200 million in cryptocurrencies over the past year alone.
In 2022, blockchain analytics company Chainalysis found it had stolen $3.8 billion from crypto businesses.
“In recent years, there has been a significant size and scale of cyberattacks on cryptocurrency-related businesses by North Korea,” blockchain intelligence firm TRM Labs reported in June.
“This coincides with a clear acceleration in the country’s nuclear and ballistic missile programs.”
More worrying for US officials is the fact that this latest exploit comes just days before North Korean leader Kim Jung-Un’s expected meeting with Russian President Vladimir Putin, when the two world leaders are expected to finalize an arms deal to aid Russia in its ongoing aggression against Ukraine. .
North Korean leader Kim Jung-Un is expected to meet with Russian President Vladimir Putin in the coming days about the arms deal.AP
Ahead of the anticipated meeting, North Korean hackers stole nearly $41 million worth of cryptocurrency from Stake.com.Getty Images
The White House has previously warned that North Korea is sending artillery shells and rockets to Russia, and is ready to negotiate more arms deals.
Then last month, North Korean state media reported that Kim and Putin exchanged letters in which they appealed to expand “bilateral cooperation in all fields” and build a “long-lasting strategic relationship in line with the demands of the new era.”
It’s unclear exactly what Kim can offer Putin as the war in Ukraine continues, but analysts say recent cryptocurrency hacks have given the communist country some funds it could use to build its weapons cache.
In the latest hack, the Lazarus Group stole $16 million in Ether, as well as stablecoins like USDT, USDC and DAI.
That was followed by the release of another $25 million in MATIC and BNB tokens.
Stake.com co-founder Edward Craven told DL News that it’s a “sophisticated breach” that exploits the services that casinos use to authorize crypto transactions.
The company stopped deposits and withdrawals following the breach, but restored both functions shortly after, and continues to operate.
Stake.com co-founder Edward Craven told DL News that it’s a “sophisticated breach” that exploits the services casinos use to authorize crypto transactions.Stake.com
The Lazarus group stole $16 million in Ether, as well as stablecoins like USDT, USDC and DAI. That was followed by the issuance of another $25 million in MATIC and BNB.X tokens / @PeckShieldAlert
The FBI is now advising the public to “be vigilant in guarding against transactions directly with, or originating from, those addresses.”
Meanwhile, the Biden administration has warned North Korea that it will “pay a price” if it moves forward with a deal to provide weapons to Russia.
The White House National Security Adviser made the remarks at a press briefing on Tuesday, when asked about reports that Kim and Putin would meet in person.
“[This] will not reflect well on North Korea, and they will pay the price for this in the international community,” he said.
“We will continue to call on North Korea to abide by its public commitment not to supply Russia with weapons that will ultimately kill the people of Ukraine.”
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Source: thtrangdai.edu.vn/en/
