MistTrack uncovers potential Lazarus Group involvement in major crypto incidents, leading to significant losses and seeking community assistance.
Key Points
- MistTrack reveals interconnected incidents involving major crypto players: CoinsPaid, AtomicWallet, and Alphapo.
- Suspicions raised about Lazarus Group’s involvement in the incidents, a notorious cybercrime organization from North Korea.
- Alphapo incident leads to $60 million in crypto losses, surpassing initial report of $23 million.
- Atomic Wallet breach compromises over 5,500 crypto wallets, resulting in losses exceeding $100 million. MistTrack uncovers connections and seeks community assistance.
In a recent revelation, MistTrack, the renowned crypto tracking and compliance platform, has brought to light a series of interconnected incidents that have sent shockwaves through the crypto community. The incidents involve three major players in the crypto sphere: CoinsPaid, AtomicWallet, and Alphapo.
According to MistTrack, data on chain shows that the CoinsPaid, Atomic and Alphapo attackers may all be the Lazarus Group, the North Korean hacking group. Earlier ZachXBT also stated that Atomic Wallet Hack appears to potentially have been done by Lazarus Group/DPRK. Read more:…
— Wu Blockchain (@WuBlockchain) July 26, 2023
The Notorious Lazarus Group
On July 26, 2023, MistTrack hinted at the possibility of the notorious Lazarus Group being behind these incidents. Known as Hidden Cobra, the Lazarus Group is a cybercrime organization believed to operate from North Korea.
They have gained notoriety for their involvement in cyber espionage and cyber warfare, being linked to significant cyber attacks such as the 2014 Sony Pictures hack, the 2016 Bangladesh Bank heist, and the 2017 WannaCry ransomware attack.
The Alphapo Incident
The first incident that came under the spotlight involves Alphapo, a prominent payment processor for various gambling services. On July 23, 2023, Alphapo disclosed that their hot wallets had been breached, resulting in the loss of over $23 million in cryptocurrencies, including Ethereum (ETH), TRON (TRX), and Bitcoin (BTC).
However, it has now come to light that the actual total amount stolen is far more substantial, reaching a staggering $60 million. The second incident centers around Atomic Wallet, a noncustodial decentralized wallet. The initial report suggested losses of over $100 million due to a security breach.
Astonishingly, the losses from this heist have surged to over $100 million, as per an analysis conducted by Elliptic. The attack targeted and compromised around 5,500 crypto wallets, making it a highly alarming and impactful event.
MistTrack’s Investigation and Connections
MistTrack’s diligent investigation has unveiled crucial connections between the two incidents mentioned above. The platform discovered that the address TNMW5iEH7CCudMTGFJA9Ch6KSf6J3hAJem received funds from TJXXmeUbie3JBfK7H3UQb43sWnbhhdTJQx, an address believed to be used by the hackers responsible for the Atomic Wallet breach.
This revelation came in response to a tweet by ZachXBT, who raised suspicions that the Atomic Wallet hack might be linked to the Lazarus Group. Notably, ZachXBT highlighted “similarity in laundering patterns to Ronin + Harmony.”
Update:
Atomic Wallet Hack appears to potentially have been done by Lazarus Group/DPRK
(seeing lots of similarities in the laundering patterns to Ronin + Harmony)
— ZachXBT (@zachxbt) June 6, 2023
Further support for these findings came from @onchainsnoop, acknowledged by MistTrack for their meticulous efforts in unearthing compelling correlations between the three major incidents. MistTrack encouraged anyone with additional information to share their findings through direct messages.
Conclusion
Although MistTrack acknowledged the improbability of fully recovering the stolen funds, they emphasized the importance of every clue. Each piece of information could help construct the puzzle and potentially aid in reclaiming a portion of the stolen funds.
As the crypto community grapples with the aftermath of these incidents, the spotlight remains on the Lazarus Group and the need for enhanced security measures in the crypto sphere. The incidents serve as a stark reminder of the ever-present threats and the importance of robust tracking and compliance platforms like MistTrack in safeguarding the crypto landscape.
