Lazarus Group: Cybercrime, Crypto Heists, and How They Target Investors

When you hear about a crypto exchange getting hacked for hundreds of millions, chances are it’s the work of the Lazarus Group, a North Korean state-sponsored cyberwarfare unit known for hacking banks, exchanges, and blockchain projects to fund its government. Also known as APT38, this group doesn’t just steal data—they steal entire wallets, drain liquidity pools, and exploit smart contracts with surgical precision. Unlike random hackers looking for quick cash, Lazarus operates like a military unit: patient, well-funded, and backed by national intelligence.

They’ve hit exchanges like BitMart and KuCoin, targeted DeFi protocols with flash loan exploits, and even gone after NFT marketplaces. Their tools? Custom malware, phishing kits disguised as crypto airdrops, and fake trading platforms that look identical to the real ones. They don’t just rely on technical flaws—they exploit human trust. One of their favorite tricks? Sending fake emails that look like they’re from CoinMarketCap or Binance, asking you to "claim your token"—which is actually a backdoor. You’ll find posts here about scams like the Frutti Dino and DOGECOLA airdrops, which follow the exact same playbook.

What makes Lazarus dangerous isn’t just their skill—it’s their persistence. They’ve been active for over a decade, evolving from bank heists in Bangladesh to stealing $620 million from the Axie Infinity Ronin bridge in 2022. Their targets aren’t random. They go after exchanges with weak KYC, platforms that skip multi-sig wallets, and projects that don’t audit their code. If you’re trading on a lesser-known exchange or holding tokens from a new chain, you’re already on their radar. The good news? You don’t need to be a coder to protect yourself. Simple steps—like using hardware wallets, avoiding unsolicited airdrops, and double-checking contract addresses—can stop 90% of their attacks.

Behind every major crypto theft you read about, there’s often a fingerprint of the Lazarus Group. They don’t care if you’re a beginner on Unocoin or a pro trading on Ionomy—they’ll find the weakest link. That’s why understanding how they operate isn’t just about curiosity. It’s about survival in today’s crypto landscape. Below, you’ll find real-world reviews and breakdowns of exchanges, scams, and security flaws that mirror their tactics. Learn from them. Don’t become their next victim.