North Korea’s Lazarus Group responsible for $55M CoinEx hack: Report

The assault on crypto change CoinEx which drained at the very least $55 million was carried out by the North Korean hacker group Lazarus, according to blockchain safety agency SlowMist and on-chain investigator ZachXBT. The hacker group was recognized after they mistakenly related their handle to the current Stake and Optimism hacks. 

It seems North Korea can be accountable for the $54M @coinexcom hack from yesterday after they unintentionally related their handle to the $41M Stake hack on OP & Polygon.

0x75497999432b8701330fb68058bd21918c02ac59 pic.twitter.com/9qZPdc3yhT

— ZachXBT (@zachxbt) September 13, 2023

On Sept. 12, CoinEx noticed massive outflows of funds to an handle with none prior historical past. Safety consultants instantly suspected that the change was breached, with preliminary estimates reaching roughly $27 million. On the time of writing, safety agency SlowMist famous that the losses from the exploit have reached greater than $55 million. 

After the hack, CoinEx International assured customers that their belongings had been safe and that affected events would “obtain 100% compensation” for any losses because of the hack. Other than this, the change briefly suspended deposits and withdrawals for added safety. The change continues to watch the state of affairs and promised a complete report concerning the incident to be printed within the close to future.

Primarily based on their on-chain conduct, the hackers accountable for the hack look like related to the current $41 million hack on the crypto playing website Stake. On Sept. 7, america Federal Bureau of Investigation (FBI) concluded that the assault on Stake was carried out by North Korea’s Lazarus Group.

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The current assault on CoinEx International provides enormous figures to the mounting losses resulting from exploits, hacks and scams throughout the crypto house. On Sept. 1, cybersecurity agency CertiK reported that as of August 2023, nearly $1 billion had already been misplaced resulting from such incidents from January this yr. In August alone, round $45 million was taken from numerous malicious assaults.

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