Recently, the crypto world has been alarmed by a rise in attacks linked to North Korean entities. Many of these trace back to Lazarus Group and Park Jin Hyok.
Lazarus Strikes Again
On February 21, Bybit crypto exchange suffered the largest cyberattack to date. Hackers stole approximately $1.5 billion in digital assets by exploiting a vulnerability in the company's Ethereum wallet. Investigations revealed possible involvement of Park Jin Hyok, a key figure in the infamous Lazarus Group.
A Hacker Raised by the State
The Lazarus Group, reportedly backed by the North Korean government, is known for cyberattacks on global financial institutions. Central to their activities is Park Jin Hyok, a Korean programmer suspected of orchestrating high-profile breaches in recent years. Initially focusing on espionage, the group shifted towards financial crimes, siphoning billions from banks and crypto exchanges.
Making of a Cybercriminal Legend
The group's venture into crypto crime began in 2017, targeting South Korean exchanges. They stole hundreds of millions of dollars from platforms like Coincheck and Youbit. Their primary tactics involved phishing and malware to penetrate systems. Park Jin Hyok, experienced in developing malicious software, likely played a crucial role in these attacks.
As Lazarus and Park Jin Hyok continue their operations, the world loses billions. Despite efforts to curb these attacks, they are becoming more sophisticated and harder to detect.
