The North Korean hacker group Lazarus has once again made headlines, this time for exploiting LinkedIn in their cyber operations. According to a report by blockchain security analytics firm SlowMist, Lazarus hackers are leveraging the professional networking platform to target unsuspecting users and pilfer their assets through malware attacks.
LinkedIn Used as a Trojan Horse
This involves Lazarus members masquerading as blockchain developers seeking employment opportunities in the cryptocurrency industry. By posing as job seekers, they lure in vulnerable targets, enticing them to share access to their code repositories under the guise of collaborative work. However, the innocuous-seeming code snippets provided by the hackers contain malicious elements designed to syphon off confidential information and assets from the victims' systems.
History of Innovation in Cybercrime
This tactic isn't new for Lazarus, as they previously employed a similar strategy in December 2023, posing as recruiters from Meta. Back then, they convinced victims to download malware-infected coding challenges, which, when executed, granted remote access to their computers.
Lazarus: A Cyber Threat
Lazarus has earned a notorious reputation in the cybersecurity realm since its emergence in 2009. The group is infamous for orchestrating some of the largest cryptocurrency heists, including the 2022 Ronin Bridge hack, which saw a staggering $625 million being stolen.
Laundering Techniques
Once they've plundered their ill-gotten gains, Lazarus employs sophisticated techniques, such as crypto mixing services, to launder the funds back to North Korea. Reports suggest these funds are funnelled into financing the country's military endeavors.
Industry Response and Countermeasures
In response to persistent cyber threats, crypto companies are advocating for heightened security measures and conducting awareness seminars to educate employees about potential risks. The industry's proactive stance has led to the implementation of robust security protocols and increased investment in cybersecurity to safeguard against data breaches and financial theft.
The recent exploits by Lazarus serve as a stark reminder of the ever-present dangers lurking in the digital realm. As cyber threats continue to expand, it's imperative for individuals and organisations alike to remain careful and adopt proactive measures to mitigate risks and be digitally secured.
By staying informed and proactive, investors, traders, and social media users can collectively work towards thwarting cyber threats and safeguarding digital assets in an increasingly interconnected world.
Eight North Korean agents have also been sanctioned by the agency for aiding in the evasion of sanctions and promoting their nation's WMD development.
The current measures are apparently a direct response to the Democratic People's Republic of Korea's (DPRK) purported launch of a military reconnaissance satellite on November 21 in an attempt to hinder the DPRK's ability to produce revenue, obtain resources, and obtain intelligence to further its WMD program.
"Active since 2012, Kimsuky is subordinate to the UN- and U.S. designated Reconnaissance General Bureau (RGB), the DPRK's primary foreign intelligence service," the Department of Treasury stated. "Malicious cyber activity associated with the Kimsuky advanced persistent threat is also known in the cybersecurity industry as APT43, Emerald Sleet, Velvet Chollima, TA406, and Black Banshee."
The OFAC, in August 2010, linked Kimsuky to North Korea's primary foreign intelligence agency, the Reconnaissance General Bureau.
Kimsuky’s operations mostly consist of stealing intelligence, focusing on foreign policies and national security concerns regarding the Korean peninsula and nuclear policy.
One of the most notable high-profile targets of the North Korea-based cyberespionage group includes the compromise of South Korea’s nuclear reactor operator in 2018, Operation STOLEN PENCIL against academic institutions in 2018, Operation Kabar Cobra against South Korean government organizations and defense-related agencies in 2019, and Operation Smoke Screen the same year.
Kimsuky was responsible for targeting at least 28 UN officials and several UN Security Council officials in their spear-phishing campaign conducted in August 2020. The cyberespionage group also infiltrated infiltrated South Korea's Atomic Energy Research Institute in June 2021.
In September 2019, the US Treasury Department imposed sanctions on the North Korean hacker groups Lazarus, Bluenoroff, and Andariel for transferring money to the government of the nation through financial assets pilfered from global cyberattacks against targets.
In May, OFAC also declared sanctions against four North Korean companies engaged in cyberattacks and illegal IT worker schemes intended to raise money for the DPRK's weapons of mass destruction (WMD) programs.
According to blockchain intelligence company TRM Labs, almost 20% of all cryptocurrency stolen this year, equivalent to $200 millions in US Dollars, has been taken by hackers connected to North Korea between January and August 18.
The TRM Labs, in a discussion with North Korea experts, in June, stated, “In recent years, there has been a marked rise in the size and scale of cyberattacks against cryptocurrency-related businesses by North Korea. This has coincided with an apparent acceleration in the country’s nuclear and ballistic missile programs,”
In the aforementioned discussion, TRM Labs also emphasized the way there has been a shift away from North Korea's "traditional revenue-generating activities" — a sign that the government may be "increasingly turning to cyber attacks to fund its weapons proliferation activity."
In another comment on the issue, blockchain analytics firm Chainalysis noted in their February issue that “most experts agree the North Korean government is using these stolen assets to fund its nuclear weapons programs.”
On the other hand, CNBC's request for a comment on the matter from the North Korean regime's diplomatic mission to the UN – the Permanent Mission of North Korea in New York – was denied.
The Democratic People's Republic of Korea, or North Korea officially known as the DPRK, has been subject to numerous sanctions by the UN since its first nuclear test in 2006, owing to its development of nuclear and ballistic missile technology.
The goal of these sanctions behind bans on North Korea’s financial services, minerals, metals and artillery is to limit Korea’s access to these sources and funds it will need to execute their nuclear activities.
The FBI only recently alerted cryptocurrency firms that hackers with ties to North Korea intend to "cash out" $40 million in cryptocurrency.
In January, the federal agency also noted that it continues to “identify and disrupt North Korea’s theft and laundering of virtual currency, which is used to support North Korea’s ballistic missile and Weapons of Mass Destruction programs.”
In regards to the issue, intelligence analyst at blockchain analytics firm TRM Labs Nick Carlsen said, “They are under pretty serious economic stress with international sanctions. They need every dollar they can. And this is just obviously a much more efficient way for North Korea to make money.”
“Even if that dollar stolen in crypto doesn’t directly go towards the purchase of some component for the nuclear program, it frees up another dollar to support the regime and its programs,” he added.