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FBI Flags Six BTC Wallets Connected To North Korean Hacking Group

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The US Federal Bureau of Investigation (FBI) recently sent a warning alert on some fraudulent activities with digital assets.

It flagged six Bitcoin wallets connected to the notorious North Korean hacking group Lazarus.

The wallets reported house about 1,580 BTC worth more than $40 million, in line with current market prices.

READ ALSO:Coinbase Floats Stand with Crypto Alliance

The tokens were believed to be proceeds from several crypto exploits by the group in 2022.

Flagged Bitcoin Wallets Linked To Lazarus Group

The FBI discovered that the Lazarus Group transferred almost 1,580 BTC through its investigation. The law enforcement agency thinks the hacking group accumulated the tokens through its numerous crypto attacks last year.

The six Bitcoin wallets containing the coins are as follows:

  • 3LU8wRu4ZnXP4UM8Yo6kkTiGHM9BubgyiG
  • 39idqitN9tYNmq3wYanwg3MitFB5TZCjWu
  • 3AAUBbKJorvNhEUFhKnep9YTwmZECxE4Nk
  • 3PjNaSeP8GzLjGeu51JR19Q2Lu8W2Te9oc
  • 3NbdrezMzAVVfXv5MTQJn4hWqKhYCTCJoB
  • 34VXKa5upLWVYMXmgid6bFM4BaQXHxSUoL

Further, the FBI alerted crypto firms that transferring funds from the wallets associated with the hacking group could mean its plan to sell as such, crypto companies should be on the lookout for the listed BTC wallets and employ blockchain data to track all fund movements from them.

The FBI stated: “Private sector entities should examine the blockchain data associated with these addresses and be vigilant in guarding against transactions directly with, or derived from, the addresses.

The FBI and other law enforcement agencies have worked together with some crypto firms in the past to tackle issues on crypto exploits. They mostly froze and recovered funds connected to such crypto exploits.

In February 2023, Binance and Huobi froze about $1.4 million of digital assets connected to North Korea through hacks. Also, the exchanges recovered $63 million worth of crypto assets tied to an exploit on the Harmony Bridge.

Lazarus Group And Its Trend Of Crypto Exploits

Lazarus Group is a North Korean hacking group linked to several crypto exploits over the past years. The state-backed group has attacked many crypto platforms and firms, carting away digital assets worth billions of dollars.

According to a report from TRM Labs, the North Korean hackers made away with approximately $2 billion worth of crypto from 2018 to 2022. The group’s activity rates spiked in 2022 as it stole about $1 billion worth of crypto last year alone. So far, in 2023, the hackers have stolen over $200 million worth of crypto.

Generally, some of the biggest decentralized finance (DeFi) attacks occurred in 2022. A report from Chainalysis, a blockchain analytics firm, disclosed that hackers stole $3.1 billion worth of assets from the DeFi space.

Additionally, Lazarus Group was revealed to be the brain behind the attack on Harmony’s Horizon Bridge and Sky Mavis’ $625 million exploit on Ronin Bridge, an Ethereum-linked sidechain in 2022.

The hackers have been deploying sophisticated approaches to target code vulnerabilities in crypto protocols and platforms in their activities. However, blockchain technology still limits their activities in laundering and transferring their proceeds since the public ledger can track the funds.

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