#1233739: North Korean hacker crew steals $571M in cryptocurrency across 5 attacks

Description: North Korean hacking outfit “Lazarus” is the most profitable cryptocurrency-hacker syndicate in the world. Since 2017, internet baddies have in total stolen $882 million worth of cryptocurrency from online exchanges, but none have done it quite as well as the infamous North Koreans.

World-renowned cybersecurity unit Group-IB is prepping to release its annual report on trends in hi-tech cybercrime. A summary obtained by Hard Fork details 14 different attacks on cryptocurrency exchanges since January last year and calculates the state-sponsored Lazarus group is responsible for $571 million of the ill-gotten gains.

That’s well over half the total sum, more than half a billion dollars.

Hackers targeting cryptocurrency exchanges mostly use traditional methods and tools, such as spear phishing, social engineering, and malware.

“Spear phishing remains the major vector of attack on corporate networks. For instance, fraudsters deliver malware under the cover of CV spam [with an attachment] that has a malware embedded in the document,” the summary explains. “After the local network is successfully compromised, the hackers browse the local network to find work stations and servers used working with private cryptocurrency wallets.”

Group-IB expects the number of targeted attacks on cryptocurrency exchanges to rise, and not just the ones from Lazarus. It warns the most aggressive hacker groups, usually known for attacking banks, will shift their attention to cryptocurrency exchanges now they know just how lucrative it can be.

Phishers responsible for 56% of stolen ICO funds
The report also reveals 10 percent of the total funds raised by ICO platforms over the past year and a half have been stolen. A majority of the funds were lost to phishing.
More info: https://thenextweb.com/hardfork/2018/10/19/cryptocurrency-attack-report/

Date added Oct. 19, 2018, 1:21 p.m.
Source thenextweb
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