Lazarus Group Extracts $1.2M Bitcoin from Coin Mixer: A North Korean Plot

• North Korean Lazarus Group Involved in Major Crypto Transaction
• Transaction Analysis by Arkham
• Understanding Coin Mixers
• Lazarus Group's History with Cryptocurrency Exploits
• North Korean Involvement in Crypto Exploits
• Lazarus Group's Current Wallet Holdings
• Metamask Developer Comments on Recent Orbit Attack

North Korean Lazarus Group Involved in Major Crypto Transaction

The infamous Lazarus Group of North Korean hackers is reported to have moved $1.2 million of their illegitimately acquired assets from a coin mixer to a holding wallet. This move is noted as their highest transaction in over a month.

Transaction Analysis by Arkham

The blockchain analysis company, Arkham, provided data showing that the Lazarus Group's wallet received 27.371 Bitcoin$42,260 -0.64% (BTC) in two separate transactions. Following this, they transferred out 3.34 BTC to a wallet previously in use. The specific coin mixer involved was not disclosed.

Understanding Coin Mixers

In the realm of cryptocurrencies, coin mixers, also referred to as tumblers, are blockchain protocols that function to obscure the ownership of cryptocurrencies. This is achieved by blending the user's coins with those of other users before redistributing them, thereby making it nearly impossible to trace the original owner. Given the transparency of blockchain technology, coin mixers help to complicate the process of tracking a cryptocurrency's origin and transfers.

Lazarus Group's History with Cryptocurrency Exploits

Reportedly, the Lazarus Group has been linked to cryptocurrency hacks and exploits totaling $3 billion in value over the past three years. This information was disclosed in a report by cybersecurity company Recorded Future. Further, the U.S. Treasury Department has connected the Lazarus Group with the theft of $600 million worth of cryptocurrency from the Ronin bridge, an entity linked to Axie Infinity.

North Korean Involvement in Crypto Exploits

A recent report from TRM Labs revealed that hackers with affiliations to North Korea were responsible for a third of all crypto exploits and thefts in 2023. They reportedly walked away with around $600 million in funds.

Lazarus Group's Current Wallet Holdings

The Lazarus Group's wallet is currently reported to hold $79 million in wallets tagged by Arkham. This includes $73 million worth of bitcoin and $3.4 million worth of Ether (ETH).

Metamask Developer Comments on Recent Orbit Attack

Taylor Monahan, a developer for Metamask, pointed out that the recent Orbit attack, which led to a loss of $81 million, showed similar patterns to earlier attacks attributed to Lazarus Group.

Edited by Jonathan Stoker