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North Korean hackers responsible for $235 million theft from Indian crypto exchange WazirX, says Cyfirma

IndianStartupNews

IndianStartupNews · 1y ago

North Korean hackers responsible for $235 million theft from Indian crypto exchange WazirX, says Cyfirma

The North Korean hacker group Lazarus Group has been identified as the culprit behind the recent $230 million theft from Indian crypto exchange WazirX. A state-sponsored attack linked to North Korea's Reconnaissance General Bureau, the breach resulted in the loss of around $235 million in various crypto assets. The stolen tokens have already been swapped for Ether via decentralized services, suggesting a typical laundering process. Lazarus Group, made up of subgroups APT38 and BlueNoroff, is known for targeting crypto exchanges and financial institutions worldwide. The attacks are believed to be motivated by generating revenue for North Korea's regime.

Related News

WazirX Eyes 'Panama' for Fresh Start After Revival Plan Rejected in Singapore

OutlookIndia

OutlookIndia · 1m ago

WazirX Eyes 'Panama' for Fresh Start After Revival Plan Rejected in Singapore

Crypto exchange WazirX faced a major setback as the Singapore High Court rejected its restructuring plan after a $235 million cyber heist. The court cited regulatory lapses, and despite creditor backing, the proposal was dismissed. In response, WazirX plans to relocate operations to Panama through Zensui Corporation to bypass stringent Singapore regulations. The move comes after North Korean hackers allegedly stole a significant portion of the exchange's crypto reserves, prompting discussions on cybersecurity in the crypto sector.

ETtech Explainer: Why WazirX’s recovery plan hit a legal roadblock

Economic Times

Economic Times · 1m ago

ETtech Explainer: Why WazirX’s recovery plan hit a legal roadblock

WazirX, an Indian cryptocurrency exchange, faced a setback when the Singapore High Court dismissed a restructuring plan by its parent company, Zettai Pte Ltd, after a $235 million cybertheft. The court ruled the proposal invalid as Zettai isn't registered in India. WazirX plans to appeal. The cyberattack, potentially linked to North Korean hackers, attracted FBI interest. Meanwhile, India may soon introduce policy discussions on cryptocurrency frameworks.

WazirX faces flak over handling of $230-million crypto heist

Economic Times

Economic Times · 1y ago

WazirX faces flak over handling of $230-million crypto heist

Indian cryptocurrency exchange, WazirX, faced criticism after experiencing a major data breach resulting in $230 million worth of stolen investor holdings. Social media users expressed concerns, calling on WazirX to take responsibility for the losses and questioning why customers should have to absorb them. It was reported that the FBI has reached out to WazirX to investigate the cyberattack allegedly involving North Korean hackers. WazirX responded by implementing a fair and transparent socialised loss strategy to distribute the impact across all users. Rupee and crypto withdrawals on the platform are currently on hold.

North Korean hackers blamed for record spike in crypto thefts in 2025 | TechCrunch

TechCrunch · 15d ago

North Korean hackers blamed for record spike in crypto thefts in 2025 | TechCrunch

In the first half of 2025, hackers have stolen over $2 billion in cryptocurrency, marking a record high year-to-date for crypto thefts, as reported by Chainalysis. Much of the theft is attributed to a major breach at crypto exchange Bybit, where North Korean hackers stole over $1.4 billion. The funds were laundered and funneled into North Korea, supporting sanctions evasion strategies and funding its nuclear weapons program, amid increased cyber threat activity from the regime.

Nischal Shetty Making False Claims To Implicate Us, Says Binance

Inc42 · 10m ago

Nischal Shetty Making False Claims To Implicate Us, Says Binance

Binance stated that it is not involved in WazirX's user agreement or ownership, nor does it hold any user funds. Binance accused Nischal Shetty of attempting to mislead WazirX customers and the market with inaccurate information. This dispute follows a crypto theft incident in which hackers stole over $230 million worth of cryptocurrency from WazirX a few months ago.

Blockchain analysts suspect North Korea-linked hackers behind $70-million crypto theft

Economic Times

Economic Times · 1y ago

Blockchain analysts suspect North Korea-linked hackers behind $70-million crypto theft

Blockchain researchers believe that North Korea-linked hackers, specifically the Lazarus Group, are responsible for a $70 million theft from the cryptocurrency exchange CoinEx. Several factors, including funds being sent to a wallet previously used by the Lazarus Group, point to their involvement. The Lazarus Group is suspected of ramping up its cryptocurrency theft operations, with multiple attacks since June. North Korea has increased its cryptocurrency theft activities in recent years, using the funds to support its nuclear and missile programs, according to a United Nations report.

Crypto chaos: WazirX hack leaves investors in financial turmoil

Economic Times

Economic Times · 7m ago

Crypto chaos: WazirX hack leaves investors in financial turmoil

In July, India's cryptocurrency exchange WazirX was hacked, resulting in the theft of $235 million worth of investor holdings. The stolen funds have been partially laundered through TornadoCash, with only $6 million remaining traceable. WazirX plans to return 52% of total creditor claims through liquid assets, while the remaining 48% will be distributed over time. Investors have raised concerns about WazirX's conduct, including the lack of transparency and the storage of a large amount of tokens in a single wallet. Legal action has been taken, but challenges exist due to the illegality of crypto in India.

FBI pings WazirX for info on attack by ‘North Korean hackers’

Economic Times

Economic Times · 1y ago

FBI pings WazirX for info on attack by ‘North Korean hackers’

The US FBI has reportedly approached Indian cryptocurrency exchange WazirX to investigate a cyberattack allegedly involving North Korean cybercriminals. The FBI's involvement is expected to benefit the investigation and enhance the exchange's efforts to protect its cryptocurrency market. WazirX suffered a cyber breach on one of its multisig wallets in July, resulting in a loss of funds exceeding $230 million. The attack is believed to have been carried out by the Lazarus group, a cybercriminal organization linked to the North Korean government. WazirX has proposed a "socialized loss strategy" to distribute the impact among users, with most investors eligible to receive 55% of their holdings.

Crypto exchange Bybit’s $1.5 billion breach: All you need to know

Economic Times

Economic Times · 5m ago

Crypto exchange Bybit’s $1.5 billion breach: All you need to know

A significant $1.5 billion crypto theft hit exchange Bybit, marking one of the largest hacks in history. CEO Ben Zhou confirmed that a hacker compromised an offline Ethereum wallet, while other wallets remained unaffected. Bybit assures solvency despite the breach. Analysts link the attack to North Korea's Lazarus Group. The heist involved 401,346 ETH and sparked Ethereum price drops. Major past crypto heists include WazirX, Ronin Bridge, DMM Bitcoin, Coincheck, and Mt. Gox.

Why WazirX will find it hard to recover stolen cryptos even with $23 mn bounty

Livemint

Livemint · 1y ago

Why WazirX will find it hard to recover stolen cryptos even with $23 mn bounty

Indian cryptocurrency exchange WazirX is offering a $23m bounty to white hat hackers and cybersecurity professionals to help recover over $230m worth of digital assets stolen from one of its wallets. The hack occurred earlier this month, with the attackers bypassing the security measures of a multisig crypto wallet. WazirX has alleged that the compromised wallet was managed using Liminal’s infrastructure, while Liminal has blamed WazirX and claimed that the hack originated from within the exchange's systems. The bounty is one of the largest offered in the crypto industry and will be active for three months.

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