This week, the Federal Bureau of Investigation (FBI) released news of a successful theft by a North Korean hacker group, amounting to an estimated $41 million in cryptocurrencies stolen from an online casino and betting platform. This incident further emphasizes the group’s capabilities and the urgency of enhanced cybersecurity measures and international collaboration to counter such criminal activities.
The FBI estimates that the group, known as the Lazarus Group, has stolen over $200 million this year alone. This alarming figure is a stark reminder of the ongoing threat posed by North Korean hackers in the cyber realm.
On September 4, Stake.com temporarily suspended its services after noticing unauthorized transfers from its hot wallets, affecting Ethereum, Polygon, and the Binance Smart Chain. The platform quickly resumed operations five hours later, and the FBI has now confirmed that the theft amounted to $41.3 million.
In an interview with DL News, Stake.com co-founder Edward Craven described the cyberattack as a “sophisticated breach”. Insider said its request for comment on Friday went unanswered by Stake.com representatives.
The cybercriminal organization has been closely monitored by the FBI, who has warned of the scale of their illicit activities. It is clear that international efforts need to be taken to prevent similar incidents from occurring.
The incident was limited to the aforementioned wallets, and all other wallets remained unaffected. Stake.com is an online casino and betting platform, offering betting options with popular assets like Bitcoin and Ethereum as well as a sportsbook with over 40 sports markets, and a user base of over 500,000 worldwide.
The FBI has indicated that the Lazarus Group, which was sanctioned in 2019 by the US Department of Treasury’s Office of Foreign Assets Control, has been responsible for numerous other notable global cryptocurrency thefts. The agency pledges to continue to expose and combat North Korea’s use of illicit activities to generate revenue for the regime.
It is clear that the North Korean cybercrime threat is still very present, and the world must remain vigilant in order to protect against similar attacks in the future.
