North Korean hackers made off with nearly $41 million worth of cryptocurrencies from an online casino and sports betting site this week — money officials worry will be used to bolster the country’s nuclear weapons program ahead of an expected arms deal with Russia.
The FBI announced on Wednesday it had traced the hack of Stake.com back to North Korea and its state-sponsored Lazarus Group, which has stolen more than $200 million in cryptocurrencies over the past year alone.
In 2022, blockchain analytics company Chainalysis found it had stolen a whopping $3.8 billion from crypto business.
“In recent years, there has been a marked size and scale of cyber attacks against cryptocurrency-related businesses by North Korea,” blockchain intelligence firm TRM Labs reported in June.
“This has coincided with an apparent acceleration in the country’s nuclear and ballistic missile program.”
Even more concerning for US officials is the fact that this latest exploit came just days before North Korea leader Kim Jung-Un’s expected meeting with Russian President Vladimir Putin, when the two world leaders are expected to iron out an arms deal to help Russia in its ongoing invasion of Ukraine.
North Korean Leader Kim Jung-Un is expected to meet with Russian President Vladimir Putin in the coming days about an arms deal. AP
Ahead of the expected meeting, North Korean hackers stole nearly $41 million worth of cryptocurrencies from Stake.com. Getty Images
The White House has previously warned that North Korea was shipping artillery shells and rockets to Russia, and were set to negotiate for more arms deals.
Then just last month, North Korean state media reported that Kim and Putin were exchanging letters in which they pleaded to expand “bilateral cooperation in all fields” and build a “longstanding strategic relationship in conformity with the demand of the new era.”
It is unclear what exactly Kim may offer Putin as the war in Ukraine continues, but analysts say the recent cryptocurrency hacks have given the communist country some funds it could use to build up its weapons cache.
In the most recent hack, Lazarus Group stole $16 million in Ether, as well as stable coins like USDT, USDC and DAI.
That was followed by another $25 million withdrawals of MATIC and BNB tokens.
Stake.com co-founder Edward Craven told DL News it was a “sophisticated breach” that exploited a service the casino uses to authorize crypto transactions.
The company halted deposits and withdrawals following the breach, but reinstated both functions shortly thereafter, and is continuing to operate.
Stake.com co-founder Edward Craven told DL News it was a “sophisticated breach” that exploited a service the casino uses to authorize crypto transactions. Stake.com
Lazarus Group stole $16 million in Ether, as well as stable coins like USDT, USDC and DAI. That was followed by another $25 million withdrawals of MATIC and BNB tokens. X / @PeckShieldAlert
The FBI is now advising the public to “be vigilant in guarding against transactions directly with, or derived from, those addresses.”
Meanwhile, the Biden administration is warning North Korea that it will “pay a price” if it moves forward with a deal to provide arms to Russia.
White House National Security Advisor made the remarks at a press briefing on Tuesday, when asked about reports that Kim and Putin would meet in person.
“[This] is not going to reflect well on North Korea, and they will pay a price for this in the international community,” he said.
“We will continue to call on North Korea to abide by its public commitments not to supply weapons to Russia that will end up killing Ukrainians.”
North Korean hackers stole $41 million in crypto to fund casino
1 COMMENT
LEAVE A REPLY
- Advertisment - 
Recent Comments
on Iowa State starting RB Jirehl Brock among latest college football players charged in gambling probe
on The Rev. Al Sharpton to lead protest after Florida governor’s ban of African American studies course
on Sports World Hails ‘Superwoman’ Lindsey Vonn for Her Grand Comeback Despite Career-Changing Injury
on San Mateo County Community College District sues five companies over role in ‘pay to play’ scandal
on Saipan, placid island setting for Assange’s last battle, is briefly mobbed – and bemused by the fuss
on ‘Pokémon Scarlet’ and ‘Violet’ Fan Theories Suggest Legendary Time Travel, Alternate Dimension Plot
on Joe Manchin and Tommy Tuberville introduce bill on name, image and likeness rules for college sports
on Inside the Michael Jordan ‘Air’ movie, plus why NFL, others are buying into the sports film industry
on If you’re a frequent traveler, these wrap tops from Aday will revolutionize your on-the-go wardrobe
on How Does Jack Nicklaus Travel? Exploring the Private Jets Owned by the ‘Golden Bear’ Over the Years
on Hollywood Reporter: Tom Cruise negotiated with movie studios over AI before the actors strike began
on Ford Blue Cruise: US regulators investigate fatal crashes involving hands-free driving technology
on Dozens of boats cruise the Seine in a rehearsal for the Paris Olympics’ opening ceremony on July 26
on Devout athletes find strength in their faith. But practicing it and elite sports can pose hurdles
on Despite strong Lunar New Year holiday data, consumer spending in China isn’t roaring back just yet
on David and Victoria Beckham so ‘Charmed’ by Tom Cruise They Have His Photos on Display at Their Home
on CONCEPT ART: New Details Revealed for Disney Cruise Line Lookout Cay at Lighthouse Point Destination
on CBS Sports announces Matt Ryan will join NFL studio show. Longtime analysts Simms and Esiason depart
on Boston College vs. Army live stream, how to watch online, CBS Sports Network channel finder, odds
on Boise State vs. Air Force live stream, odds, channel, prediction, how to watch on CBS Sports Network
on Biden to tout bill’s prescription drug prices, energy provisions in pitch to Americans, aide says
on After UFC Fallout, Conor McGregor Offers a Valuable Piece of Advice to Free Agent Francis Ngannou
on 2024 Super Bowl: CBS Sports Network and CBS Sports HQ to combine for 115 hours of weeklong coverage
on ‘Best Intention’: Chris Kirk Has Absolute Trust in Jay Monahan and PGA Tour’s Widely Debated Model
on 2023 NFL All-Rookie Team: CBS Sports draft expert, former GM unveil league’s best first-year players
on “Completely Knocked Me Out”: Rob Lowe Recalls Boxing Match With Tom Cruise On 1983 Brat Pack Classic
on CONCEPT ART: New Details Revealed for Disney Cruise Line Lookout Cay at Lighthouse Point Destination
on “Completely Knocked Me Out”: Rob Lowe Recalls Boxing Match With Tom Cruise On 1983 Brat Pack Classic
on CBS Sports announces Matt Ryan will join NFL studio show. Longtime analysts Simms and Esiason depart
on Carlos Sainz’s Soccer Fanboy Emerges as Spaniard Shares Defining Moment With This Real Madrid Legend
on Biden: ‘At this point I’m not’ planning to visit East Palestine, Ohio, after toxic train derailment
on ‘Best Intention’: Chris Kirk Has Absolute Trust in Jay Monahan and PGA Tour’s Widely Debated Model
on Ahead of big sports weekend, dispute with Disney leaves millions of cable subscribers in the dark
on A heavy wave of Russian missile attacks pounds areas across Ukraine, killing at least 4 civilians
on 2024 Super Bowl: CBS Sports Network and CBS Sports HQ to combine for 115 hours of weeklong coverage
on 2023 NFL All-Rookie Team: CBS Sports draft expert, former GM unveil league’s best first-year players
on Army vs. Coastal Carolina live stream, how to watch online, CBS Sports Network channel finder, odds
on AL Rookie of the Year Julio Rodriguez Spreads Joy and Sportsmanship to the Youth of Loma de Cabrera
on After UFC Fallout, Conor McGregor Offers a Valuable Piece of Advice to Free Agent Francis Ngannou
on Dubai International Airport sees 41.6 million passengers in first half of year, more than in 2019
on Devout athletes find strength in their faith. But practicing it and elite sports can pose hurdles
on Despite strong Lunar New Year holiday data, consumer spending in China isn’t roaring back just yet
on Dave Portnoy: Taylor Swift’s security should ‘drag Kim Kardashian to jail’ if she attends Eras Tour
on CONCEPT ART: New Details Revealed for Disney Cruise Line Lookout Cay at Lighthouse Point Destination
on “Completely Knocked Me Out”: Rob Lowe Recalls Boxing Match With Tom Cruise On 1983 Brat Pack Classic
on CBS Sports, Serie A announce new TV rights deal; Paramount+ to air over 400 Italian soccer matches
on Cam Newton’s Violent Public Incident Draws Hilarious Reaction From 3x All-Star: “Where Do I Sign Up
on Boston College vs. Army live stream, how to watch online, CBS Sports Network channel finder, odds
on Angel Reese Launches Foundation Dedicated To Empowering Women Through Sports & Financial Literacy
on A weaker dollar, skyrocketing prices and ‘record’ visitor numbers: Good luck in Europe this summer
This blog is such a hidden gem I stumbled upon it by chance and now I’m completely hooked!