Key takeaways:
- According to blockchain security company SlowMist, the North Korean hacking group Lazarus was responsible for the attack on the crypto exchange CoinEx.
- Security professionals feared the exchange had been compromised immediately, with initial estimates at around $27 million.
According to blockchain security company SlowMist and on-chain investigator ZachXBT, the North Korean hacking group Lazarus was responsible for the attack on the crypto exchange CoinEx, which cost the company at least $55 million.
After accidentally disclosing its address—the same one used in the most recent attacks on Stake and Optimism—the hacking group was located.
On September 12, CoinEx saw significant money transfers to an address without history. Security professionals feared the exchange had been compromised immediately, with initial estimates at around $27 million.
Security company SlowMist reported that the vulnerability has cost more than $55 million in losses. Following the incident, CoinEx Global provided users with reassurances that their assets were safe and that those who had suffered losses would “receive 100% compensation” for such losses.
In addition, for increased security, the exchange momentarily banned deposits and withdrawals. The exchange has pledged to produce a thorough report regarding the occurrence soon and is still keeping an eye on the situation.
The hackers who carried out the attack appear to be linked to the recent $41 million hack on the cryptocurrency gambling platform Stake based on their on-chain behavior.
On September 7, the Federal Bureau of Investigation (FBI) of the United States came to the conclusion that the Lazarus Group of North Korea was responsible for the attack on Stake.
The damages resulting from exploits, hacks, and scams in the cryptocurrency ecosystem have risen dramatically as a result of the recent attack on CoinEx Global.
According to CertiK, a cybersecurity company, as of August 2023, approximately $1 billion had already been lost as a result of similar events since January of this year. Due to numerous harmful attacks, around $45 million was stolen just in August.
Last week, a security flaw that affected Stake, a cryptocurrency-based betting platform, led to the suspicious outflow of almost $15 million, including 6,000 ether and $5.9 million in stablecoins. Following the event, the platform has momentarily stopped accepting deposits and withdrawals, although Stake has not yet released an official statement.
