O FBI on Thursday accused hackers associated with the North Korean government of stealing more than $14 million worth of cryptocurrency last month from a video game company - the latest in a series of audacious cyber heists linked to Pyongyang.
According to the FBI, there is a hacker network, titled Lazarus Group. And they are believed to work directly for the North Korean government. The US Treasury Department sanctioned the cryptocurrency address that was used for the Axie Infinity hack.
"Through our investigation, we were able to confirm that Lazarus Group and APT38, cyber actors associated with the Democratic People's Republic of Korea, are responsible for the theft of $620 million worth of Ethereum reported on March 29”, the FBI said in a statement.
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Reports indicate that cyberattacks have become a major source of income for the North Korean regime, leader Kim Jong Un. The Lazarus Group has stolen an estimated USD 1,75 billion worth of cryptocurrencies in recent years, according to Chainalysis, a company that tracks digital currency transactions.
"A cryptocurrency hack is essentially a bank robbery at internet speed and funds North Korea's destabilizing activity and weapons proliferation.,” said Ari Redbord, head of legal affairs at TRM Labs, a firm that investigates financial crimes. 🇧🇷As long as they are successful and profitable, they will not stop."
In Axie Infinity, players participate in battles and receive rewards that they can exchange for cryptocurrencies or cash. To play, they need to buy a minimum of three Axies, which are NFT (non-fungible tokens), which are stored in an unalterable blockchain or digital ledger.
