Public Key Podcast

[CHAINALYSIS PODCAST EPISODE 8] The Lazarus Heist: A Peek Inside North Korea’s Global Cyber War

Episode 8 of Public Key, the Chainalysis podcast, is here! In this episode, we go from Hollywood to high finance for an inside look at North Korea’s global cyber war and the role of the country’s elite hacking team, Lazarus Group. 

You can listen or subscribe now on Spotify, Apple, or Audible. Keep reading for a full preview of episode 8.

Public Key Episode 8 preview: Sony Productions Sabotage, Largest DeFi Hack in the world and ongoing cryptocurrency related stolen funds

In this episode of Public Key, our host, Ian Andrews (CMO at Chainalysis) is joined by international investigative journalist and author, Geoff White. White’s latest book, The Lazarus Heist, discusses Lazarus Group’s criminal activity both in and out of crypto, including the 2014 hack of Sony Pictures, and its attacks on DeFi protocols such as the recent Ronin Bridge hack. 

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)
  • Geoff White (Author, The Lazarus Heist: From Hollywood to High Finance: Inside North Korea’s Global Cyber War)

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