Public Key

The Lazarus Heist: A Peek Inside North Korea’s Global Cyber War


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The Lazarus Heist: A Peek Inside North Korea's Global Cyber War

In this episode of Public Key, our host, Ian Andrews (CMO at Chainalysis) along with International Investigative Journalist and Author, Geoff White who has just finished his book, The Lazarus Heist, brings the chapters to life discussing the Sony Productions sabotage, the biggest DeFi hack to date on Ronin Bridge Exchange and the cyber warfare on cryptocurrency exchanges and traditional financial institutions alike. Only Geoff could dive deep into the complexities and showmanship of the most well known, state sponsored criminal hacker group in the world.  The Lazarus Group and capture such riveting details. 

Quote of the episode

“It seems like a volume of  hundred dollar bills that were counterfeit, over a long period of time, were originating out of North Korea. Like they were just printing their own US currency..- Ian Andrews (Chief Marketing Officer, Chainalysis) 

Minute-by-minute episode breakdown
  • (1:19) – The origin story of Geoff White and using bitcoin to buy drugs on silk road  
  • (5:45)  – How the Lazarus Group Hackers crippled Sony Production Studios 
  • (10:01) – How crippling sanctions has led North Korea to turn to illicit activity to fund their economy
  • (12:45) – The Superdollar and North Korea’s counterfeit USA hundred dollar bill operation
  • (16:27) – Why Lazarus Group was unable to complete a billion dollar heist
  • (18:05) – Explanation of the Axie Infinity Ronin Bridge Hack of $600 Million
  • (21:20) – How do get better reporting and intel regarding ransomware and cyber attacks
  • (23:00) – Is North Korea using dormant cryptocurrency addresses with stolen funds as an off-shore credit line?
  • (27:32) - The nuances of the hack of The Cosmos Bank in India using International accomplices found on the Dark Web
  • Related resources

    Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key.

    • Video: Chainalysis Links New York 2022 (Video Replays) 
  • Book: The Lazarus Heist: From Hollywood to High Finance: Inside North Korea's Global Cyber War
  • Podcast: The Lazarus Heist on BBC News World Service
  • Blog: Lazarus Group Pulled Off 2020’s Biggest Exchange Hack and Appears to be Exploring New Money Laundering Options
  • Blog: North Korean Hackers Have Prolific Year as Their Unlaundered Cryptocurrency Holdings Reach All-time High
  • Report: The Chainalysis 2022 Crypto Crime Report
  • Speakers on today’s episode
    • Ian Andrews * Host * (Chief Marketing Officer, Chainalysis) https://www.linkedin.com/in/ianhandrews
  • Geoff White (Author, The Lazarus Heist: From Hollywood to High Finance: Inside North Korea's Global Cyber War) https://www.linkedin.com/in/geoffwhite247
  • This website may contain links to third-party sites that are not under the control of Chainalysis, Inc. or its affiliates (collectively “Chainalysis”). Access to such information does not imply association with, endorsement of, approval of, or recommendation by Chainalysis of the site or its operators, and Chainalysis is not responsible for the products, services, or other content hosted therein.

    Our podcasts are for informational purposes only, and are not intended to provide legal, tax, financial, or investment advice. Listeners should consult their own advisors before making these types of decisions. Chainalysis has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material.

    Chainalysis does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material. 

    Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Chainalysis. The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Chainalysis employees are those of the employees and do not necessarily reflect the views of the company. 

     

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