HomeCryptopediaA North Korean crime ring has been linked to a $540 million...

A North Korean crime ring has been linked to a $540 million cryptocurrency hack.

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The United States suspects North Korea of being behind the computer attack which caused the theft of more than half a billion euros in cryptocurrencies.

It’s the last week of March. The Ronin platform, which provides services in the area of crypto-currencies, recently reported that it had been hacked.

The intention was to steal cryptos from this network rather than bring it down. The operation was a success, as the loss was estimated to be around 540 million euros. It’s almost a new high.

Pyongyang is suspected by the US.

A composite portrait of the assailants was released two weeks later. The attack was carried out by the Lazarus hacking organization, according to the United States. According to an April 14 update from the Ronin platform, the FBI has come to this conclusion.

The Treasury Department, for its part, has banned the addresses used to transfer the stolen monies.

The US Treasury statement reveals that Lazarus is a structure related to the North Korean dictatorship, which is not surprising to anyone who monitors cyber activities.

Lazarus is a name that appears in the news on a frequent basis, such as during the WannaCry ransomware attack in 2017 or the Sony hack in 2014.

The way Lazarus operates shows that this organization is a mechanism for Pyongyang to fund itself in the face of international sanctions.

The collective’s aims or methods of operation indicate a desire to recover money via stealing crypto-currencies, assaulting the financial sector, deploying ransomware, or breaking into banking networks.

 

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