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Kaspersky Labs Uncovers Lazarus Group Cryptocurrency Exchange Hacking

The antivirus company Kaspersky Lab announced on the 23 August that a cryptocurrency exchange is compromised by a malware.

Kaspersky revealed that it is the first time the incident is reported adding that the malware ‘AppleJeus’ runs on both Windows and the MacOS. According to Kaspersky, the North Korean state-sponsored Lazarus Group is behind the Hack.

Kaspersky Antivirus Uncovers Major Hacks by the Lazarus Group

Kaspersky labs revealed that a malicious software named AppleJeus crept into the systems of an anonymous cryptocurrency exchange company. The exchange was infected by the malware after an employee downloaded an application from a genuine looking website. Kaspersky Labs, the company behind the Kaspersky Anti-Virus has been closely tracking the malware.

According to Kaspersky, the downloaded app originated from a fake website, created by the popular North Korean hackers group. Lazarus hacking group is responsible for some of the World’s biggest scams and posed a major threat for a number of years. So far, the group has participated in hacking banks and cryptocurrency exchanges globally. Kaspersky believes that the malware was induced to get hold of cryptocurrency funds in the exchange.

Kaspersky revealed that the hacking group created malware versions that run on every operating system including the apple macOS. The North Korean Lazarus hacking group mainly targeted exchanges and banks in South Korea. Recently Cryptocurrency exchanges, Bithumb and YouBit decried at malicious activities of the group on several occasions.

While commenting on the hacker’s activities, the head of Kaspersky’s APAC team said:

“The fact that they developed malware to infect macOS users in addition to Windows users and – most likely – even created an entirely fake software company and software product in order to be able to deliver this malware undetected by security solutions, means that they see potentially big profits in the whole operation.”

Numerous Hacks Targeting Cryptocurrency Infrastructures

Cloud computing and cryptocurrency platforms present the highest vulnerabilities to unauthorized remote information theft. This is majorly due to their nature of the business, which requires a constant online activity of their entire database. Hackers try to exploit every loophole in these platforms with the aim of illegal financial gains from the platform.

Recently a new row of hacking hit the crypto space where target systems are locked away and a cryptocurrency ransom asked for decrypting the locked information. According to a Group-IB report, Russia, China, and the United States have the highest risk of a hacking attack. In another incidence, a macOS malware impersonated key individuals in the crypto space and shared small snippets online. When downloaded, the snippet executes a malicious binary on the host system.

programming and reverse Engineering make securing online platform very expensive and in return running related businesses costly. Hackers keep on improving their techniques while maintaining a constant attack on to the target system. Therefore, it is vital for cryptocurrency companies to spend a sizable volume of resources on security.

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Jacob Okonya

Since 2013, Jacob has been engaged in blockchain technologies, Bitcoin, and fintech. He worked mostly as a blockchain market researcher, fintech journalist, and online forum moderator.Jacob has contributed to blockchain, Bitcoin, and fintech news articles, for coinidol.com, bitcoinira.com, and other various channels. Jacob’s vision is to disseminate information, contribute to business marketing, and develop the cryptocurrency industry. At STREAMITY exchange, Jacob is involved in creating articles and educational content for different project components, explaining how users can utilize the various resources. 39RTAmNRLQh3tLn5TJy6yY578vDVQuFVZw

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