Tokyo, Dec 24, (V7N) – A North Korean hacking group, believed to be part of the infamous Lazarus Group, has stolen over $300 million in cryptocurrency from the Japan-based exchange DMM Bitcoin, according to Japanese police and the FBI.

Details of the Heist

The TraderTraitor group, linked to Lazarus, executed the attack in late May 2024. They used "targeted social engineering," the FBI explained, involving a hacker posing as a recruiter on LinkedIn. The attacker contacted an employee of a crypto wallet software company, sending a malicious file disguised as a pre-employment test.

This method allowed the hacker to compromise the system and impersonate the employee, leading to the loss of 4,502.9 Bitcoin—valued at $308 million at the time.

"The actors likely used this access to manipulate a legitimate transaction request by a DMM employee," the FBI reported.

Lazarus Group's Notorious History

Lazarus Group first gained global attention a decade ago for hacking Sony Pictures in retaliation for The Interview, a satirical film about North Korean leader Kim Jong Un.

Over the years, Lazarus has been implicated in numerous high-profile cybercrimes, including cryptocurrency thefts to fund North Korea's regime.

North Korea’s Cyber Arsenal

North Korea's cyber-warfare program dates back to the mid-1990s and has grown into a formidable force. According to a 2020 US military report, its 6,000-strong cyber unit, Bureau 121, operates from various countries, leveraging cybercrime to evade international sanctions.

The FBI, Japan’s National Police Agency, and international partners have pledged to intensify efforts to combat North Korea's use of cybercrime to fund its government.

"We will continue to expose and combat North Korea's illicit activities," the FBI said, highlighting the need for global vigilance against such sophisticated cyber threats.

This latest heist adds to a long list of cryptocurrency thefts attributed to North Korea, underscoring the growing threat of cybercrime in the financial sector.

END/WD/RH/