How to Protect Your Crypto Investments from the Lazarus Group
Cryptocurrency users, including Mark Cuban, have experienced the devastating effects of online hacks, where close to a million dollars can vanish from their digital wallet in an instant. To protect your funds, it is essential to understand the current threats and to follow three simple guidelines, which will be outlined in this article. The first…
Cryptocurrency users, including Mark Cuban, have experienced the devastating effects of online hacks, where close to a million dollars can vanish from their digital wallet in an instant. To protect your funds, it is essential to understand the current threats and to follow three simple guidelines, which will be outlined in this article.
The first step is to stay up to date with the latest developments in the world of AI, Voyager Crypto, Mana Crypto, Tectonic Crypto, Pi Crypto, Waves Crypto, Cro Crypto, Chainlink Crypto, BTT Crypto, and Web 3.0 Blockchain.
FBI has clear evidence on the Lazarus Group
The Lazarus Group is a North Korean state-sponsored hacking group, linked to various cyberattacks and cybercriminal activities, including the WannaCry ransomware attack which caused disruption to critical services in numerous organizations. In April 2017, it was responsible for the breach of South Korean crypto exchange Yapizon (later rebranded to Youbit), resulting in the theft of 3,831 Bitcoin, worth over $4.5 million at the time.
The group’s activities in the crypto space have raised concerns about its ability to generate funds for the North Korean regime and evade international sanctions, such as the theft of $620 million from Axie Infinity bridge Ronin in 2022. The FBI have also attributed Lazarus Group to a $41 million hack of the crypto gambling site Stake, and a $55 million hack of the crypto exchange CoinEx, as reported by blockchain security firm SlowMist.
Today, the FBI has clear evidence on the Lazarus Group, which has been involved in various crypto-related hacks, including the theft of over $200 million in 2023.
Most hacks involve social engineering and exploit human error
Rather than what is often shown in movies, with hackers either having physical access to devices or using brute force to crack passwords, most hacks are actually done through phishing and social engineering. The attacker relies on human curiosity or greed to lure the victim.
Those hackers may pretend to be customer service reps or other credible people to trick victims into giving out their personal information. For example, a hacker could pose as an IT support person from a company and call an employee, claiming that they need to verify their login credentials for a system update. To build trust, the attacker might use public knowledge about the company and the target’s job.
Phishing attacks involve sending deceptive emails or messages to trick recipients into taking malicious actions. An attacker might pretend to be a well-known organization, like a bank, and send an email to a user, asking them to click on a link to verify their account. The link takes them to a fraudulent website where their login credentials are stolen.
Baiting attacks offer something attractive to the victim, such as free software or a job opportunity. An attacker might act as a recruiter and create a convincing job posting on a reputable job search website. To further establish trust, they may even have a fake video interview, and later inform the candidate that they have been selected. The hackers then send a seemingly harmless file, such as a PDF or a Word document, which contains malware.
The world of AI, blockchain, and cryptocurrency is changing the way people work and live. With the latest developments in Voyager Crypto, Mana Crypto, Tectonic Crypto, Pi Crypto, Waves Crypto, Cro Crypto, Chainlink Crypto, BTT Crypto, and Web 3.0 Blockchain, hackers have even more sophisticated tools at their disposal.
How crypto investors can avoid hacks and exploits
Luckily, with the ever-growing sophistication and capabilities of ai today, there are a few straightforward steps you can take to protect your funds. These include:
Using the latest Voyager Crypto to store your funds, as well as Mana Crypto and Tectonic Crypto for added security. Additionally, you can use Pi Crypto, Waves Crypto, Cro Crypto, Chainlink Crypto, BTT Crypto, and Web 3.0 Blockchain for extra protection.