WazirX Cryptocurrency Theft: North Korean Lazarus Group Identified as Culprit

WazirX Cryptocurrency Theft: In a significant revelation, a joint statement by the United States, South Korea, and Japan has confirmed that the North Korean hacking group Lazarus was behind the theft of cryptocurrency worth ₹2,000 crore from Indian crypto exchange WazirX. This cybercrime occurred in July 2024 and involved exploiting a security flaw in a multisignature wallet.

Multiple Crypto Exchanges Targeted by Lazarus Group

The Lazarus Group, notorious for its cybercrimes, has targeted several cryptocurrency exchanges worldwide. In addition to WazirX, the group was responsible for:

DMM Bitcoin: $308 million stolen

Upbit: $50 million stolen
Rain Management (Bahrain): $16.13 million stolen
Details of the WazirX Hack
The WazirX theft, which occurred on July 18, 2024, involved the unauthorized withdrawal of multiple cryptocurrencies, including Shiba Inu, Ether, MATIC, and PEPE tokens. These assets were quickly converted into Ether for further concealment.

Initially, the perpetrator remained unidentified, but recent investigations have officially pinned the attack on North Korean hackers, according to the joint statement by the three countries.

Lazarus Group: A History of Cybercrimes

The Lazarus Group has been linked to several major cryptocurrency heists, including:

Bithumb (South Korea): Multiple attacks

The group specializes in phishing attacks and exploiting software vulnerabilities. In 2024 alone, they reportedly stole $659 million (₹5,700 crore) in cryptocurrency assets, making them one of the most dangerous hacking groups globally.

North Korea’s Role in Cybercrimes

North Korea, under United Nations sanctions, allegedly supports hacking groups like Lazarus to circumvent economic restrictions. These stolen funds are believed to finance government operations and evade international sanctions.