Lazarus Group | FinTelegram News

Tag: Lazarus Group

February 24, 2025

The ByBit Hack: A Watershed Moment for Cryptocurrency Security

On Feb 21, 2025, the crypto industry witnessed its largest theft to date when hackers successfully breached ByBit, a major cryptocurrency exchange, and stole approximately $1.5 billion worth of digital assets, primarily in Ethereum (ETH). This unprecedented hack has sent shockwaves through the crypto world, raising serious questions about the security of digital assets and the future of cryptocurrency exchanges.

January 3, 2024

Crypto Losses: $1.8 Billion Lost to Cyber Heists in 2023, North Korea’s Lazarus Group Leads the Charge

It is a concerning trend in the web3 space: an estimated $1.8 billion was lost to hackers and fraudsters in 2023, with a significant portion of these losses linked to the notorious North Korea-affiliated hacker group Lazarus. The global web3 space was valued at over $934 billion in 2022. That capital represents an unparalleled and attractive opportunity for blackhat hackers.

December 1, 2023

Virtual Currency Mixer Sindbad Sanctioned by OFAC for Laundering Activities Linked to DPRK’s Lazarus Group

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has taken decisive action against Sinbad.io, a virtual currency mixer, for its role in laundering millions of dollars from cyber heists conducted by the notorious Lazarus Group, a cyber hacking group backed by the Democratic People’s Republic of Korea (DPRK). Sinbad has been a crucial tool for laundering proceeds from high-profile heists such as those on Horizon Bridge and Axie Infinity.

September 16, 2023

The U.S. War Against The Russian Crypto Industry!

Before Western sanctions against Russia over the Ukraine invasion began in February 2022, U.S. authorities were cracking down on the Russian crypto scene. Since the beginning of the new sanctions in 2022, the American approach against the Russian crypto scene, which is under general suspicion of money laundering and sanctions violations, has intensified and is bringing charges against Russian crypto schemes and their masterminds.

August 3, 2023

CoinsPaid Recovered From Lazarus Crypto Heist, All Payment Requests Successfully Processed!

As reported by FinTelegram, the crypto payment processor CoinsPaid has been hacked by the North Korean cybercrime racket Lazarus Group. The company reported that approximately $37 million in cryptocurrency was stolen in this crypto heist. Recently, CoinsPaid announced a near-complete recovery of its weekly transaction volume. The company used data from the Crystal Blockchain service to illustrate its recovery progress.

July 30, 2023

Crypto Heist: Lazarus Group Allegedly Stole $37M From CoinsPaid In A Cyberattack!

Estonia-based crypto payment processor CoinsPaid, controlled by the Austrian national Alexander Horst Riedinger and his Ukraine partner Max Krupyshev, has reported that approximately $37 million in cryptocurrency was stolen in a cyberattack likely orchestrated by the North Korean Lazarus Group. The company suspended automatic transactions and began moving the systems to new infrastructure.

June 14, 2023

The $100 Million Atomic Wallet Crypto Heist And The Russian Crypto Exchange Garantex

Blockchain security and compliance firm Elliptic has provided an update on the $100 million stolen from Atomic Wallet, implicating the Lazarus Group, a North Korean hacking collective, as the likely perpetrators behind the attack. The group allegedly used the Russian-based crypto exchange Garantex, which is under U.S. sanctions, to launder the stolen assets. Lazarus evidently managed to find alternative ways to convert its assets into Bitcoin.

August 9, 2022

U.S. Department Of Treasury Sanctioned Crypto Mixer Tornado Cash!

The U.S. Department of Treasury ’s Office of Foreign Assets Control (OFAC) sanctioned crypto mixer Tornado Cash saying it laundered more than $7 billion of cybercrime proceeds since its creation in 2019. Crypto asset mixers are designed to obscure funds trails by blending someone’s tokens with a pool of other individuals’ assets on the platform. The U.S. government says Tornado Cash fosters illicit activity. The Tornado Cash website is offline!

The Unraveling of Rabidi and the Rise of the SoftSwiss Network: Our Updated Forensic Report

A few months ago, FinTelegram released a first forensic report on the bankruptcy of Rabidi N.V., a Curacao-registered online casino operator with hundreds of millions in revenues — and no traceable assets by the time of its collapse in May 2024. That report already raised serious questions about the opaque structures behind Rabidi’s operations and its successor, Liernin Enterprises Ltd.

DeFi Decoded: Smart Contracts – The Code Behind the DeFi Revolution

Smart contracts are the invisible architects of decentralized finance. These self-executing lines of code run everything from token swaps to lending platforms without middlemen. But while they offer autonomy, they also introduce new risks—bugs, exploits, and irreversible mistakes. In this fourth installment of our FinTelegram DeFi Series, we explain what smart contracts are.

CFTC

Despite New Crypto Friendlyness: No Settlement Between U.S. CFTC And KuCoin?

A planned settlement between the U.S.CFTC and crypto exchange KuCoin is now in limbo due to a reported policy shift within the CFTC. This change is attributed to the Trump administration’s new approach, which deprioritizes enforcement actions against crypto companies. As a result, a CFTC attorney said that it is "unlikely that such authorization will be granted in the near term" regarding the settlement approval.

SEC’s New Era: Paul Atkins Sworn In—Will Crypto Finally Get the Regulatory Clarity It Deserves?

The U.S. Securities and Exchange Commission (SEC) has entered a new chapter with the swearing-in of Paul S. Atkins as its 34th Chairman, a move widely anticipated to mark a dramatic pivot in how the agency approaches crypto and DeFi regulation. For years, the financial industry—especially the burgeoning digital asset sector—has bristled under the SEC’s “Regulation by Enforcement” strategy.

Crypto Mogul Changpeng Zhao – Fallen, Rich, and Rising Again?

As spring 2025 blooms and Easter’s themes of rebirth fill the air, Changpeng Zhao emerges as one of the most controversial figures of startup mythology: a man who fell spectacularly, paid a price—then rose again, wealthier and louder than ever. Once the almighty architect of Binance, CZ now resides in Dubai with a net worth that Forbes estimates at $63 billion.