- Over a four-year span, Lazarus Group converted $200 million worth of cryptocurrency into fiat money, according to a ZachXBT investigation.
- The analysis examined more than 25 exploits on different blockchains and tracked money obtained illegally by going through exchanges, mixers, and other channels.
According to an investigation by cryptocurrency detective ZachXBT, North Korea’s Lazarus Group converted $200 million worth of cryptocurrency into fiat money between August 2020 and October 2023.
The analysis examined more than 25 vulnerabilities across many blockchains. It tracked how money obtained illegally was transferred out of the cryptocurrency ecosystem via mixers, peer-to-peer marketplaces, and centralized exchanges.
ZachXBT said on the social networking site X Monday that the Lazarus Group attacks have affected thousands of individuals in the area both directly and indirectly, and it appears that figure will only rise.
The Lazarus Group steals money through advanced cyberattacks. According to a recent investigation by The Block, the Group has been connected to significant cryptocurrency attacks such the $100 million Harmony bridge exploit in January 2023 and the Ronin bridge hack in March 2022.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
