Cryptocurrency exchange Binance has been thwarted by one of the world’s most famous cryptocurrency hackers

Cryptocurrency exchanges Binance and Huobi have again frozen accounts associated with the most notorious hacker group Lazarus Group. The frozen accounts contained cryptocurrency worth about $ 1.4 million.

Exchanges @binance and @HuobiGlobal today froze accounts containing $ 1.4 million stolen by North Korea’s Lazarus Group. This was made possible thanks to intel from Elliptic’s real-time investigations tools and a swift response by the receiving exchanges.https://t.co/f5bVpm8yfH

— Elliptic (@elliptic) February 14, 2023

The fact that hackers are trying to transfer these funds and hide them was reported by Elliptic. Thanks to the quick response of the exchanges' representatives, the fraudsters failed to carry out the desired transactions. «The stolen funds remained dormant until recently, when our investigators noticed attempts to make transfers through complex transaction chains. By immediately notifying Binance and Huobi, we were able to freeze the accounts and the funds in them,» Elliptic said.

Lazarus Group hackers are suspected of helping the North Korean government develop weapons of mass destruction. Rumor has it that the lion’s share of the nuclear program’s funding is made up of stolen cryptocurrency. Last year, Lazarus was also accused of hacking attacks on Israeli and Japanese crypto exchanges. Most analysts believe that crypto hacking and phishing attacks from North Korea will not stop, and the UN will respond to Pyongyang’s promising cryptocurrency and cybercrime with further sanctions.

«Today, in real time, the stolen cryptocurrency was frozen. We have the authority and responsibility to ensure that digital assets do not become an aid and tool for those who launder money and evade sanctions. We ensure that digital assets are a force for good,» said Elliptic CEO Simone Maini.

As a reminder, in early February, the UN Security Council submitted a fresh analytical report on North Korea to the Sanctions Committee. According to the document, in 2022, North Korean hackers stole more crypto assets than ever before. «The DPRK has used advanced cyber technologies to both gain access to digital networks and steal potentially valuable information, including for its nuclear programs,» the document says. North Korea itself officially denies everything.