{"id":42777,"date":"2025-08-18T17:31:33","date_gmt":"2025-08-18T17:31:33","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=42777"},"modified":"2025-08-18T17:31:33","modified_gmt":"2025-08-18T17:31:33","slug":"lazarus-group-behind-23m-crypto-theft-on-uk-start-up-crypto-users-turn-to-best-wallet","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=42777","title":{"rendered":"Lazarus Group Behind $23M Crypto Theft on UK Start-Up \u2013 Crypto Users Turn to Best Wallet"},"content":{"rendered":"
\n

Details have finally emerged about the $23M hack that crippled US-based crypto exchange Lykke late last year. The culprit? North Korea\u2019s Lazarus Group, once again.<\/p>\n

With hacks like these becoming more prevalent, the need for secure, non-custodial storage becomes increasingly necessary.<\/p>\n

This is where Best Wallet<\/a> shines, a solution designed to safeguard your crypto from precisely these threats.<\/p>\n

UK Treasury Confirms Lazarus Behind \u2018UK\u2019s Biggest Crypto Heist\u2019<\/h2>\n

The attack, known as the largest UK-based crypto theft, took place in June 2024. It involved stolen assets across both the Bitcoin and Ethereum networks.<\/p>\n

While the affected systems were immediately shut down to limit damage, the entire exchange was forced to discontinue its service on December 6, 2024.<\/p>\n

In fact, the entire situation was murky for months, with Lykke struggling to pinpoint the blame. But finally, UK authorities and blockchain analysts have pieced together what happened \u2013 not only for Lykke\u2019s sanity, but also its former users. \"<\/p>\n

The UK Treasury\u2019s Office of Financial Sanctions Implementation (OFSI) identified the notorious state-sponsored hacking group as responsible.<\/p>\n

Israeli research firm Whitestream also backed the UK watchdog\u2019s findings after tracing the stolen funds through exchanges.<\/p>\n

Lykke\u2019s Founder Declared Bankrupt, Crypto Exchange Liquidated<\/h2>\n

Life after the hack has been anything but smooth for Lykke. In January, the crypto company\u2019s founder, Richard Olsen \u2013 a descendant of the Swiss Julius Baer banking dynasty \u2013 was declared bankrupt and placed under criminal investigation by Swiss authorities.<\/p>\n

And that\u2019s not all. In March, a UK judge ordered Lykke into liquidation<\/a> after over 70 users filed claims over \u00a35.7M in lost funds.<\/p>\n

The hack and its aftermath highlight the vulnerabilities that crypto companies face, alongside the growing threat of hacking groups.<\/p>\n

And it hits even harder when knowing that over $2.17B has been stolen from crypto services<\/a> this year, surpassing all of 2024.<\/p>\n

ByBit\u2019s $1.4B hack accounts for the majority of losses. And yes, Lazarus was responsible.<\/p>\n

On May 16, 2025, on-chain analyst ZachXBT also found that Lazarus stole around $3.2M worth of $SOL<\/a>. Yet these are just a few examples \u2013 Lazarus is one of the largest cybercrime groups worldwide, after all.<\/p>\n

Lazarus often carries out such scams by funneling stolen funds through Tornado Cash, a crypto mixing service designed to make it tricky to trace funds.<\/p>\n

Owing to helping scammers obscure their transaction trails for unlawful financial gain, it was sanctioned by the US Treasury in 2022. However, a recent court ruling led the regulators to drop their appeal<\/a>, so such sanctions are set to be lifted soon.<\/p>\n

With attacks like these growing in scale, and Tornado Cash\u2019s sanctioning being lifted not helping matters, secure wallets like Best Wallet are more necessary now than ever.<\/p>\n

Gain Full Crypto Control With the Best Wallet\u00a0App<\/h2>\n

Best Wallet<\/a> is a multi-chain, non-custodial wallet that puts you in full control of your crypto \u2013 without compromising privacy or security.<\/p>\n

Unlike custodial platforms, it ensures that only you hold the private keys<\/a> to your assets, ensuring complete ownership. It leverages Fireblocks\u2019 MPC technology<\/a>, so instead of relying on traditional seed phrases<\/a>, it splits your private keys and distributes them across locations.<\/p>\n

Private key exploits drained $2.1B<\/a> worth of crypto lost to attacks in the first half of 2025, compared to $1.5B over the same period in 2024. And with such attacks accelerating, Best Wallet\u2019s non-custodial protection is vital for peace of mind.<\/p>\n

\"Private<\/p>\n

Best Wallet also avoids KYC requirements<\/a>, so you need not worry about handing over your personal data to use the mobile app (available on iOS and Android).<\/p>\n

But there\u2019s more to the wallet than security. It supports over 1K digital assets, soon across 60 blockchain networks. So, it\u2019s no wonder it\u2019s a go-to hub for managing, trading, buying, and selling crypto assets.<\/p>\n

Better still, it has a \u2018Cross-Chain Swap\u2019 feature that connects you to 330+ decentralized exchanges and 30+ bridges. By doing so, it ensures you\u2019re given the best rates and lowest fees when moving your crypto assets across networks.<\/p>\n

Plus, it has a lineup of developments in the pipeline, including Best Card (its own crypto debit card), an NFT gallery, and market intel analytics.<\/p>\n

\"Best<\/p>\n

Best Card alone should be a major boon: It\u2019ll enable you to spend your assets directly while on the move, boosting crypto accessibility and daily use.<\/p>\n

By scooping up some $BEST<\/a>, its native token, you can also enjoy lower gas fees, governance rights, and early access to top presales.<\/p>\n

Buy & Stake $BEST to Earn 90% APY<\/h2>\n

Lykke\u2019s collapse underscores just how vulnerable crypto services and assets are when it comes down to sophisticated, state-backed hackers like Lazarus.<\/p>\n

With billions worth of crypto already stolen this year alone, there\u2019s no better time to prioritize your control and security of digital assets.<\/p>\n

Best Wallet<\/a> is a great way to protect your assets. It gives you full ownership over them, plus protection against private key breaches \u2013 its future-focused roadmap that makes crypto more usable daily is just a cherry on top.<\/p>\n

To boost the wallet\u2019s value, consider purchasing $BEST on presale<\/a> for just $0.025495. After doing so, it can also be staked at a hefty 90% APY for passive income.<\/p>\n

This isn\u2019t investment advice. Always do your own research and never invest more than you\u2019d be sad to lose<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Details have finally emerged about the $23M hack that crippled US-based crypto exchange Lykke late last year. The culprit? North Korea\u2019s Lazarus Group, once again. With hacks like these becoming more prevalent, the need for secure, non-custodial storage becomes increasingly necessary. This is where Best Wallet shines, a solution designed to safeguard your crypto from […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-42777","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/42777","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=42777"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/42777\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=42777"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=42777"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=42777"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}