FBI Identifies Lazarus Group Behind Stake․com’s $41M Theft

Vignesh Karunanidhi
FBI Identifies Lazarus Group Behind Stake․com's $41M Theft

The Federal Bureau of Investigation (FBI) has issued a warning to the public regarding the recent crypto casino heist. Stake.com, a prominent online crypto casino and betting platform, fell victim to cybercriminals on September 4, 2023, losing a staggering $41 million in virtual currency.

Also read: Crypto Casino Stake․com Reportedly Hacked For $41.3 Million

The culprits behind this Stake hack have been unmasked as the Lazarus Group, a notorious hacker group hailing from North Korea also known as APT38.

Lazarus Group identified as Stake.com hackers

The FBI’s investigation has unveiled a web of illicit activities as Democratic People’s Republic of Korea (DPRK) cyber actors swiftly moved the stolen funds. The investigation identified the movement of Ethereum, Binance Smart Chain (BSC), and Polygon networks to multiple addresses.

However, this isn’t the first time the Lazarus Group has wreaked havoc on the virtual currency landscape. 2023 has been a year of unprecedented theft. These bad cyber actors pilfered over $200 million in various cryptocurrency heists.

Notable among these is the theft of approximately $60 million from Alphapo and CoinsPaid on July 22, 2023, followed by another haul of approximately $100 million from Atomic Wallet on June 2, 2023.

Also read: Bitcoin: Two Years Ago Today, El Salvador Adopted BTC As Legal Tender

The FBI also issued a cybersecurity advisory on TraderTraitor, urging caution in the digital landscape. Additionally, the U.S. Department of Treasury’s Office of Foreign Assets Control (OFAC) had already imposed sanctions on the Lazarus Group back in 2019.

The heist at Stake.com marks another chapter in the ongoing saga of cybercrime, highlighting the urgency for enhanced cybersecurity measures and international cooperation.