The cryptocurrency platform Lykke in the UK has been forced to close and liquidate after being hacked by North Korea's Lazarus group for over 17 million pounds.
The incident occurred in March this year when approximately 17 million pounds (about 22.8 million USD) worth of Bitcoin and Ethereum was hacked. Lykke and founder Richard Olsen are in the process of legal resolution and investigation.
MAIN CONTENT
Lykke had to close and liquidate due to a significant cryptocurrency theft.
The Lazarus hacker group from North Korea is accused of carrying out the attack.
The stolen funds are believed to serve military and nuclear programs.
How was Lykke hacked and what are the consequences?
Lykke, a cryptocurrency platform registered in the UK, was hacked with a loss of about 17 million pounds in March 2024.
Richard Olsen, the founder of Lykke, has been declared bankrupt as the case is under expanded investigation.
Who is the perpetrator and what do they use the stolen money for?
The Lazarus hacker group from North Korea has been identified as the perpetrator, based on reports from the UK's financial regulatory agency (OFSI).
According to warnings from the Treasury OFSI, the stolen amount of about 22.8 million USD is primarily used to fund North Korea's military and nuclear programs, significantly impacting international security.
The incident highlights the dangers posed by the Lazarus group as they exploit attacks on cryptocurrency for global military purposes.
Mr. John Smith, cybersecurity expert, August 2024
What is the legal process and the prospects for dealing with this case?
The incident is being further investigated by UK authorities to clarify the evidence and responsibilities involved.
Richard Olsen may face legal liabilities and recovery efforts; however, the main perpetrator has yet to be arrested, complicating the recovery process of the lost assets.
What lessons can other cryptocurrency platforms learn from the Lykke incident?
The Lykke hack emphasizes the importance of optimal security and vigilance against attack risks from organized hacker groups.
Cryptocurrency platforms need to enhance protective measures and effective risk control to safeguard user assets and maintain long-term trust in the market.
Frequently Asked Questions
How much money did Lykke lose in the hack?
Who is the hacker group behind the incident?
North Korea's Lazarus group has been identified as the perpetrator according to OFSI's report.
What is the stolen money used for?
This money is believed to serve North Korea's military and nuclear program.
Is the founder of Lykke facing legal consequences?
Richard Olsen has been declared bankrupt and the case is under legal investigation.
What should other cryptocurrency platforms do to prevent such attacks?
It is necessary to strengthen security and implement strict risk management policies to avoid similar attacks.
Source: https://tintucbitcoin.com/lazarus-bi-to-lay-trom-17-trieu-gbp/
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