Cryptocurrency exchange BitMEX has thwarted another cyberattack attempt by the notorious Lazarus Group, a North Korea-linked hacking entity. This time, the attackers tried to lure an employee with a fake NFT partnership, a common social engineering tactic.
🎯 Attack Initiated via LinkedIn
According to a blog post published on May 30, a BitMEX employee was approached on LinkedIn under the pretense of a Web3/NFT collaboration. The real goal was to trick the target into running a malicious GitHub project containing infected JavaScript code.
BitMEX noted that the technique used was a familiar Lazarus tactic, relying on social engineering as a first step to gain access to internal systems.
“The tactics used by Lazarus were basic but effective. Our security team quickly identified the threat,” the company stated.
🌐 A Lead to China
Upon analyzing the attack, BitMEX traced one of the IP addresses used by the hackers to Jiaxing, China, just 100 kilometers from Shanghai, even though the infrastructure was linked to North Korean operations.
The report emphasized that Lazarus often starts attacks with low-effort phishing methods, moving to more advanced strategies once inside.
🧠 Lazarus Operates Through Sub-Groups with Varying Skill Levels
Cybersecurity analysts say North Korean cyberattacks often involve multiple sub-groups with different levels of sophistication. While some focus on basic social engineering, others use advanced tools such as smart contract exploits or cloud infrastructure manipulation.
In one major incident, hackers tricked a Safe Wallet employee into opening a malicious file, eventually leading to the theft of $1.4 billion from Bybit. The breach began with nothing more than social engineering.
🚨 Ongoing Threat – Well Organized and Persistent
Security expert Snir Levi of Nominis warns that Lazarus remains a highly active and organized threat. Based on reports received from victims, he believes the group attempts scams daily, using a wide range of techniques.
“From fake job offers to backdoored PDFs, their attack vectors are evolving,” Levi said.
📊 A Massive Impact on the Crypto Sector
According to Chainalysis, Lazarus-linked actors stole $1.34 billion worth of crypto in 2024, accounting for over 60% of all crypto thefts that year. That’s a 102% increase from the $660 million stolen in 2023.
Western intelligence services have long warned that proceeds from crypto thefts may fund up to 50% of North Korea’s weapons and missile development programs.
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