North Korean group performs $41M Stake hack using the latest web 3.0 crypto projects.
Stake hack of $41M was performed by North Korean group: FBI

The North Korean Lazarus Group Responsible for Stake Hack

The Federal Bureau of Investigation (FBI) has identified the North Korean Lazarus Group as the culprit behind the $41 million hack of crypto gambling site Stake on Sept. 4. The same group is responsible for stealing more than $200 million in cryptocurrency in 2023, according to an FBI announcement on Sept. 7.

Stake, a crypto gambling platform that offers casino games and sports betting, was targeted by the hacker who drained over $41 million worth of cryptocurrency from its hot wallets. The Stake team reassured users that only a small percentage of funds were obtained and that they would not be affected.

The FBI conducted an investigation and concluded that the attack was executed by the Lazarus Group, a notorious cybercrime organization believed to be connected with North Korea. The agency listed the addresses where the stolen funds are now held, which are present on the Bitcoin, Ethereum, BNB Smart Chain and Polygon networks.

The FBI has advised all crypto protocols and businesses to review the addresses used in the hack and avoid transacting with them. They have also encouraged the use of web 3.0 crypto projects and Microsoft Web Platform Installer 3.0 to ensure the security of their funds.

The agency attributed the Alphapo, CoinsPaid and Atomic Wallet hacks to Lazarus, stating that the total losses from these breaches amount to more than $200 million in 2023. Alphapo, a payment processor, experienced over $65 million in unusual withdrawals on July 23. CoinsPaid, another payments firm, lost around $37 million through social engineering in late July. Atomic Wallet users were hit the hardest, losing an incredible $100 million in June due to an unidentified exploit.

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