Japan Police notifies Crypto-Firms against Lazarus Group

Over the years, there have been several hacks and attacks in the crypto-verse. Recently, it was discovered that the Lazarus Group, based in North Korea, was responsible for some of the most damaging attacks on the sector. Additionally, the Lazarus Group has engaged in cryptocurrency-related breaches through phishing for a number of years, the Japanese authorities recently revealed.

In a recent announcement, Japan’s Japan’s National Police Agency [NPA] and Financial Services Agency [FSA] urged crypto platforms to stay wary of phishing scams. These agencies believe that the hacker group has been stealing crypto mainly because these assets are “managed more loosely.”

Elaborating on these phishing attacks, the statement read,

“This cyber attack group sends phishing emails to employees impersonating executives of the target company […] through social networking sites with false accounts, pretending to conduct business transactions […] The cyber-attack group [then] uses the malware as a foothold to gain access to the victim’s network.”

Therefore, firms across the country were asked not to open email attachments or even hyperlinks negligently. Downloading files from sources that could not be verified particularly with regard to crypto was urged to be overlooked.

Additionally, the NPA advised owners of digital assets to “install security software,” “use multi-factor authentication,” and avoid using the same password across several platforms or services.

This further led to the community speculating if the Lazarus Group would lose out on its funding from Japan.

Will Lazarus Group continue to go phishing?

The entire globe is aware of the Lazarus Group being backed by the North Korean government. Over the years, the community has witnessed the downfall of several crypto platforms. From the Ronin Bridge hack to the recent Harmony’s Horizon Bridge hack, the Lazarus Group has established its hold over these bridges.

Despite the efforts of the Japanese government, the Lazarus group has continued to take down crypto firms in the region. It was brought to light that the NPA and FSA have issued multiple warning notices to crypto firms. The latest advisory statement is reportedly the fifth one.

Therefore, the chances of the Lazarus Group recording a drop in their funding through Japan were limited.