North Korea Has Lazarus, A Group of Hackers Who Steal IDR 5.7 Trillion Of Crypto Money To Fund Nuclear Weapons

North Korean hacker Lazarus Group managed to steal trillions of rupiah in crypto. (Cointelegraph)

JAKARTA - North Korea is reported to have a cybercrime organization called Lazarus Group which uses advanced techniques to carry out theft and laundering of cryptocurrencies. The hacking group has demonstrated "tremendous adaptability to evolving regulations."

In addition, the totalitarian North Korea is slowly emerging as a leader in global hacking. China and Russia have traditionally attracted the attention of mostly democratic governments concerned with cybersecurity.

According to a recent report, the Center for a New American Security (CNAS) has warned of the existence of a Pyongyang-led cybercrime organization known as the Lazarus Group. The organization has transformed from a “team of crooked hackers to an army of cybercrime experts and foreign affiliates” who stole hundreds of millions of dollars worth of crypto.

CNAS explained that the well-known organization stole around $300 million worth of digital assets in 2020 from the Singapore-based KuCoin exchange. The US think tank also demonstrated the "advanced" hacking techniques used by the Lazarus group.

"This major intrusion includes a range of sophisticated hacking and laundering techniques, including professional blending services and the use of the new DeFi platform in an attempt to obfuscate (hacking) activity."

However, the Lazarus Group is not good enough at mixing stolen crypto assets, making it relatively easy for law enforcement to track the attacks.

“Hackers use different Bitcoin addresses to move stolen funds, they still combine them into multiple groups, making it easier to link their holdings to a single source.”

According to another analysis by Chainalysis, North Korean cyber criminals stole nearly $400 million worth of crypto in 2021. Criminals have collected stolen funds after attacking digital asset exchanges and investment companies.

Bitcoin made up about 20 percent of the total assets stolen, while Ethereum made up more than half of the total loot with 58 percent. The remaining 22 percent are other altcoins and tokens on the ERC-20 network.

Despite several sanctions imposed by the US, North Korea is reportedly still developing its nuclear weapons. Earlier this month, the United Nations (UN) accused the Asian nation of funding its missile tests with stolen digital assets.

The organization stated that North Korea launched nine nuclear tests last January, the highest number of tests in a month for the country led by Kim Jong-un, as summarized by Cryptopotato's Voi.id.