Threats to Changpeng Zhao
Changpeng Zhao, known as CZ, the founder of the cryptocurrency exchange Binance, is reportedly facing threats from hackers potentially linked to government entities. On October 10, Zhao shared a screenshot on X (formerly Twitter) that highlighted a Google alert concerning attempts by government-affiliated hackers to infiltrate his account.
“Could the North Korean hacking group, Lazarus, be behind this intrusion attempt?”
Despite his concerns, Zhao reassured his followers that he does not store any sensitive information on the account and advised them to remain vigilant against such threats.
The Lazarus Group
The Lazarus Group is recognized globally as one of the most dangerous state-sponsored hacking collectives. Allegedly created to finance North Korea’s prohibited weapons developments, they target cryptocurrency enterprises. This group has been linked to numerous major cryptocurrency thefts, including the notorious Bybit hack, which was one of the largest breaches in the crypto sector.
Their tactics often involve social engineering, where they impersonate IT personnel to gain access to target companies from within.
Recent Attacks
Earlier this year, Lazarus was implicated in a significant hacking attack against the UK-based exchange Lykke, which was forced to cease operations after a substantial loss of Bitcoin and Ethereum. They have also been accused of orchestrating an attack on WazirX, India’s leading cryptocurrency exchange, which faced a similarly devastating fate.
Impact on North Korea’s Economy
Experts at Elliptic estimate that hacking groups like Lazarus could contribute up to 13% of North Korea’s GDP through illicit cyber activities. Their focus extends beyond institutional targets, often setting their sights on prominent individuals like Zhao, who has a net worth exceeding $60 billion and commands a substantial following on X, with over 10 million followers.
Zhao’s extensive influence in the cryptocurrency realm and his ongoing endeavors in mentoring new businesses make him a lucrative target for malicious cyber activities aimed at accessing private assets or information.
Precautionary Measures
According to a Google security blog, alerts like the one Zhao received are precautionary measures. They emphasize that receiving such a notification does not imply that an account has been breached, but rather indicates a potential threat assessment based on observed attempts from government-affiliated hackers to access a user’s data via methods like phishing or malware.
