Lazarus Group linked to Taiwan exchange hack
North Korea’s Lazarus Group suspected in crypto theft targeting Taiwan’s BitoPro exchange.
Taiwanese cryptocurrency exchange BitoPro has confirmed that North Korea’s state-sponsored Lazarus Group carried out a cyberattack on 9 May, resulting in the theft of approximately $11.5 million.
The company announced an internal investigation supported by an external cybersecurity firm. BitoPro detected suspicious outflows from its platform in early May, prompting immediate security measures and a comprehensive forensic review.
According to the exchange, the attackers employed tactics, techniques, and procedures (TTPs) consistent with previous operations attributed to Lazarus—an elite cybercrime unit from North Korea linked to numerous high-profile financial and cryptocurrency heists worldwide.
‘The methodology observed during the breach strongly resembles known Lazarus Group activity,’ BitoPro stated. ‘We are working closely with law enforcement and blockchain security experts to recover stolen assets and prevent further incidents.’
The breach adds to a growing list of Lazarus-linked attacks targeting decentralised finance (DeFi) platforms, exchanges, and cross-chain bridges—sectors often lacking the robust security infrastructure of traditional banking systems.
BitoPro’s disclosure highlights the escalating threat that state-affiliated hacking groups pose to the digital asset industry. Experts warn that these attacks are becoming more frequent and sophisticated as bad actors continue to exploit vulnerabilities in emerging financial technologies.
Currently, BitoPro has not confirmed whether any of the stolen funds have been recovered. The company has assured users that affected systems have been secured and that additional security measures are being implemented to protect its infrastructure.
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