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What’s up everyone!

Today, we’re shining a light on The Lazarus Group, a North Korean state sponsored hacking group. But first, A quick shout-out to our sponsor, Incogni :

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NOW, back to these guys 👇️ 

Recent insights from United States cybersecurity firm Recorded Future reveal a staggering revelation – North Korean hackers, affiliated with The Lazarus Group, have stolen a jaw-dropping $3 billion in cryptocurrency since 2017. What's more alarming is that over half of it was stolen in the past year alone.

According to Recorded Future's report, the stolen cryptocurrency amounts to roughly half of North Korea's entire military expenses for the year. In 2022, the reported theft soared to an estimated $1.7 billion, equivalent to 5% of North Korea's economy or a staggering 45% of its military budget. To put this into perspective, it surpasses the nation's total annual income from exports by nearly tenfold.

🌍 North Korean Hackers' Focus on Cryptocurrency

Initially focusing their efforts on South Korea's cryptocurrency market, The Lazarus Group, rapidly expanded their reach across the globe. This strategic shift from traditional finance to digital financial technology showcases the adaptability and scale made possible by government support.

Enter Sinbad, a crypto mixer allegedly involved in money laundering for The Lazarus Group. Crypto mixers like Sinbad play a pivotal role in cybercrime by obscuring the origin of funds. Acting as digital laundromats, mixers pool and shuffle cryptocurrencies, making it challenging for authorities to trace the illicit flow of funds. These mixers add complexity to the investigation, allowing cybercriminals to legitimize and move ill-gotten funds with increased anonymity.

A blockchain analytics firm, Chainalysis has labeled The Lazarus Group and North Korea-linked hackers as the most "prolific cryptocurrency hackers over the last few years." Notably, these hackers exhibit a unique preference for crypto mixers such as Tornado Cash and Sinbad, enabling them to move funds at a notably higher rate than other criminal groups.

Next week, we shift to a topic that directly affects all of us – Using Public Wifi. Is the fear hype warranted, or is it all just noise? Are VPN’s necessary? Is your data traffic visible on public wifi? Tune in next week to find out.

Parting reminder:

If you haven’t in the past year, change your passwords & Don’t Get Got!

P.S. Your experiences matter. If you've encountered a scam/hack or have insights to share, we invite you to connect with us. Let's build a community that stands against cyber threats.

Email us : [email protected]