- September 9, 2023
- Posted by: [email protected]
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The Federal Bureau of Investigation (FBI) has pinpointed the notorious Lazarus Group from North Korea as the culprits responsible for a high-stakes heist of $41 million in cryptocurrency from the online crypto casino, Stake.
As outlined in an official statement made earlier this week by the FBI, this daring attack occurred around September 4th, siphoning cash across numerous blockchain networks, including Ethereum, BNB Chain (previously known as Binance Smart Chain/BSC), Polygon, and Bitcoin.
The FBI’s statement provided a list of 33 wallet addresses believed to have played a role in the attack, conclusively attributing it to North Korea’s Lazarus Group, also known by its moniker, APT38.
The targeted crypto casino, endorsed by the well-known rapper Drake, first detected unusual outbound transactions on a fateful Monday. The irregularities in transactions didn’t escape the vigilant eye of blockchain security firm PeckShield, which promptly shared a link to the on-chain activity.
Other blockchain security firms joined the investigation, with Beosin estimating the total losses incurred to be approximately $41.35 million. This sum was distributed across various platforms, with Ethereum bearing $15.7 million, Polygon losing $7.8 million, and Binance Smart Chain contributing another $17.8 million to the staggering tally. The unfolding events sent shockwaves through the digital asset community, heightening concerns amidst plunging market prices, with many characterizing it as the latest “rugpull.”
Surprisingly, despite the significant financial setback, Stake managed to resume its services later that same day. They took to their official channels to convey a brief message of apology, stating that they “apologize for any inconvenience.”
The Lazarus Group is no stranger to the world of cryptocurrency crime, standing out as one of the most prominent criminal entities operating within the crypto sphere. It is widely suspected that a portion of the ill-gotten gains from such heists is funneled into North Korea’s nuclear weapons and ballistic missile program. Among their infamous exploits, the Lazarus Group has been implicated in the Ronin Bridge hack of Axie Infinity, an incident acknowledged by both the US Treasury Department and the FBI.
