Crypto hackers have become increasingly more daring in their heists. These hackers stole over $4 billion in cryptocurrencies in 2021. North Korean hackers are responsible for about 10% of the total amount from at least seven attacks, according to Chainalysis, a Blockchain data platform. Unfortunately, these hackers have doubled down this year! The notorious North Korean hackers Lazarus group pulled off one of the biggest cryptocurrency heists. They reportedly stole $615 million worth of USDC and ETH from the Ronin Network. This Ethereum-based Defi network hosts the popular Axie Infinity game. This brazen hack has left the crypto community reeling in shock. Some are even calling it the worst cryptocurrency hack ever. The growing ease with which hackers can compromise blockchain networks is also causing concern. There have been 78 hack events in the first quarter of 2022, an increase of 154% from last year’s first quarter. Considering that there were only five blockchain-related hack events in Q1 of 2018, these numbers are alarming. But who are these hackers? What is their modus operandi, and how can we prevent future hacks? We briefly look at one of the hackers, Lazarus Group, responsible for the Axie Infinity heist. Who is the Lazarus Group? Lazarus usually refers to individuals or entities who have the knack of always making a comeback. Lazarus Group has done exactly that since coming into the limelight over a decade ago. Als...
