Lazarus Group: Crypto Heists, North Korean Hackers, and How They Target Blockchain
When you hear about a crypto exchange getting hacked for hundreds of millions, chances are it’s the work of the Lazarus Group, a sophisticated cyber warfare unit backed by the North Korean government. Also known as APT38, this group doesn’t break in for fun—they steal to fund a nation’s nuclear program. Unlike random scammers, Lazarus operates like a military unit: patient, well-funded, and obsessed with bypassing security at every level.
They’ve hit exchanges like Bitfinex, KuCoin, and Ronin Network, using everything from phishing emails to zero-day exploits. Their favorite targets? Wallets with weak multi-sig setups, poorly audited DeFi protocols, and employees who click the wrong link. They even created fake job postings to infiltrate crypto firms. What makes them dangerous isn’t just their tech—it’s their patience. They’ll sit in a network for months, learning how it moves money before striking.
Their attacks tie directly to real-world events. When sanctions hit North Korea, Lazarus ramps up. When crypto prices spike, they hunt for new exploits. And they’re not slowing down. In 2023 alone, they stole over $1.7 billion, according to Chainalysis. They don’t care about anonymity—they care about liquidity. They launder stolen crypto through mixers, convert it to stablecoins, and cash out via unregulated P2P platforms in places like North Macedonia or Iran, where tracking gets messy.
That’s why posts here cover everything from on-chain crypto tracing, the forensic methods used to follow stolen funds across blockchains to how VPNs in Iran, used to bypass financial controls become tools for laundering. You’ll find deep dives into how exchanges get breached, how wallets are clustered, and why even big projects like ZK-rollups, Ethereum’s scaling solution aren’t immune if the human layer fails.
There’s no magic bullet to stop Lazarus. But you can make yourself harder to hit. Know your exchange’s security practices. Use hardware wallets. Never reuse addresses. And if something looks too good to be true—like a fake airdrop or a job offer from a crypto firm you’ve never heard of—walk away. The tools to track them exist. The knowledge to avoid them? That’s what you’ll find below.
How North Korea Cashes Out Stolen Cryptocurrency to Fiat
North Korea has turned cryptocurrency theft into a state-funded banking operation, stealing over $3 billion since 2017 and converting it into cash through unregulated hubs like Cambodia. Learn how hackers, IT workers, and DeFi loopholes keep the regime funded despite global sanctions.
- December 1 2025
- Terri DeLange
- 6 Comments