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The North Korean-backed Lazarus Group, 66th largest TRON (TRX) holder at $11.63 million. They reportedly have $45.8 million in crypto, mainly in Bitcoin ($42M) and $640,000 in stablecoins. Suspected to fund North Korea’s missile program, they stole nearly $200 million in June and July. The Lazarus Group, a hacking collective linked to North Korea, has emerged as a significant TRON whale, as per blockchain data. Lately, they’ve been busy making unlawful profits from cryptocurrency platforms. On September 26, PeckShield, a blockchain security company, revealed that the CoinEx Drainer, linked to them, possesses more than 137 million TRX, worth about $11.63 million.
Expanding Holdings of the Lazarus Group

CoinEx Drainer crypto holdings. Source: X/@PeckShieldAlert
On September 12, there was a hack at CoinEx, and they lost about $55 million. Interestingly, around a fifth of that money was in TRX, which is Tron’s native token. Right now, TRX is trading at $0.084, and it’s gone up by 8% in the last two weeks.
Now, here’s the kicker: The hacking group behind this is Lazarus from North Korea. A blockchain security firm called SlowMist figured that out. But, CoinEx got back on its feet and allowed deposits and withdrawals for some cryptocurrencies on September 21.
According to a Dune Analytics dashboard from 21 Shares, which is like a parent company, the Lazarus group has about $45.8 million in crypto right now. They had a lot more earlier in the year, over $80 million, but that was mostly because of a $41 million hack on Stake.com. While they do have a bunch of TRX, most of their stash is in Bitcoin, around $42 million worth.

Lazarus Group crypto balance over time. Source: Dune Analytics
Additionally, they’ve got $640,000 in stablecoins, with a focus on Binance USD (BUSD).
The FBI says that Lazarus swiped nearly $200 million from Atomic Wallet, Alphapo, and CoinsPaid in June and July.
Experts often mention that they’ve been using their stolen crypto money to support North Korea’s missile program.
Hacking Spree Persists
Crypto security experts at Elliptic have been keeping a close eye on Lazarus, and what they’ve found is quite alarming. In just 104 days, Lazarus launched five attacks and made off with a staggering $240 million.
What’s interesting is that some of the money stolen from CoinEx ended up in an address that had previously been used to hide funds taken from Stake. It seems Lazarus has changed its tactics this year.According to Elliptic, Lazarus is now more interested in targeting centralized services instead of decentralized ones. Plus, they’ve become quite crafty with their methods. They prefer to trick people through social engineering, especially employees at centralized crypto companies, using sophisticated phishing attacks with their Lazarus malware. Be careful out there!
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#CryptoNews #LazarusGroup #TRON #TRX #CoinEx

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CoinEx Halts Transactions After $54 Million Cryptocurrency Theft Due to Security Breach.

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CoinEx, a cryptocurrency exchange, recently experienced a hacking incident resulting in the loss of over $54 million worth of assets. Although the breach is awaiting official confirmation, it appears that assets stored in Ethereum (ETH), TRON, and Polygon wallets may have been compromised.

Crypto commentator Colin Wu, using the platform X (formerly Twitter), drew attention to potential vulnerabilities in CoinEx’s hot wallets. Wu pointed out that assets, particularly ETH, TRON, and Polygon, may have been affected, with an estimated combined loss of $27.8 million.

In response to the breach, CoinEx reportedly took swift action by transferring the impacted assets to a cold wallet address, enhancing security measures.

Crypto Exchange CoinEx Hit by $54 Million Hack, ETH, TRON, and Polygon Affected

A cold wallet, identified by the address (0xf54…7E5d), currently safeguards a substantial amount totaling $89 million. Notably, a significant portion of these funds is allocated to Ethereum (ETH), amounting to $51.7 million, along with $18.23 million in USD.

While CoinEx has maintained a silent stance regarding the incident, experts within the crypto community strongly emphasize the need for reinforcing security protocols as a proactive measure to prevent potential future breaches.

In a subsequent report, Colin Wu confirmed that the losses stemming from the hack have escalated to $54 million, encompassing various cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and XRP, among others.

CoinEx Halts Deposits and Withdrawals After $54 Million Cryptocurrency Hack

CoinEx, a cryptocurrency exchange, has temporarily suspended deposits and withdrawals following a major security breach that led to the theft of over $54 million worth of cryptocurrencies. The attack targeted the exchange’s “hot wallets,” which are digital wallets connected to the internet. CoinEx has vowed to compensate affected users and is conducting a thorough investigation into the incident.

Security experts advise crypto users to safeguard their digital assets by using secure hardware wallets like Ledger, which store private keys offline and are less vulnerable to online threats.

The stolen cryptocurrencies include Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), Polygon (MATIC), and Tron (TRX). Despite this setback, CoinEx remains committed to its growth plans, even as it faces legal challenges, such as business registration violations in New York.

This incident adds to a series of recent security breaches and hacks in the crypto community, highlighting the need for enhanced security measures and vigilance among users.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#Blockchain #Bitcoin #CryptoNews #cryptomarket #CoinEx

CoinEx suspends transactions after facing a security breach leading to loss of crypto assets such as XRP, Ethereum and Bitcoin to the tune of $54 million.

Read more on: https://thecryptobasic.com/2023/09/13/54m-in-xrp-bitcoin-ethereum-stolen-from-coinex-in-recent-hack/

#CoinEx #CYBER #crypto #crypto2023