E-Financial
Lazarus, Hacking Group Targets Cryptocurrency Space- Kaspersky
Kaspersky Lab, cybersecurity watchdogs yesterday issued a warning that the well-known hacking group known as Lazarus, which is allegedly sponsored by the North Korean government, is alive and well and still targeting the cryptocurrency industry.
According to the folks at Kaspersky Lab, the hacking group began a new operation in November 2018, using new methods to infiltrate the computer systems of businesses in the financial sector and gain access to sensitive data.
Research done by Kaspersky Lab shows the hackers customized PowerShell scripts that “communicate with malicious C2 servers and execute commands from the operator.”
The scripts, dubbed “macro-weaponized document[s],” look like WordPress files and other open-source projects. Once the malware has control over a company’s servers, it can “set sleep time (delay between C2 interactions), exit malware, collect basic host information, check malware status, show current malware configuration, update malware configuration, execute system shell command, [and] download [and] upload files.”
These weaponized documents are specifically designed to catch the attention of cryptocurrency professionals.
Kaspersky Lab believes that the hacking group is explicitly targeting Korean crypto exchanges based on the fact that the malware is delivered using a malicious “Korean Hangul Word Processor format” (HWP), which takes advantage of a known weakness in the PostScript software and is popular only among Korean users. That one of the weaponized documents was sent to a crypto exchange based in Korea is also telling.
The Lazarus group uses several methods to infect exchanges’ servers. According to Kaspersky Lab, research shows that the group is most likely “running an old vulnerable instance of Internet Information Services (IIS) 6.0 on Microsoft Windows Server 2003.” The group is also suspected of purchasing servers from a hosting company that it uses to “host macOS and Windows payloads.” The cybersecurity watchdog believes the group only puts malware on rented servers and uses servers that are already infected to run C2 scripts. These servers have been found from China to the European Union.
The research done by Kaspersky Lab further shows that the group has adopted better methods to avoid detection. Lazarus is separately developing malware for “32-bit and 64-bit Windows” so it has more choices concerning the platform its wishes to infiltrate and the type of compiled code it wishes to use. Kaspersky Lab concludes that the same developers are using these methods to infect Apple products, which is why the group built the macOS malware.
The report ends with a warning to the larger crypto and tech industry:
“If you’re part of the booming cryptocurrency or technological startup industry, exercise extra caution when dealing with new third parties or installing software on your systems. It’s best to check new software with an antivirus…[a]nd never ‘Enable Content’ (macro scripting) in Microsoft Office documents received from new or untrusted sources.”
The Lazarus group is suspected of perpetrating some of the biggest hacks ever seen in the cryptocurrency industry.
The group allegedly committed the hack against Coincheck, in which approximately 500 million NEM tokens were stolen in January 2018. The group also allegedly infiltrated the Bithumb network and made off with $31.5 million worth of digital currency.
Nigerian banks have resumed international transactions on naira-denominated debit cards, marking a significant shift in banking operations for customers who rely on foreign payments.
This is coming nearly three years of suspension.
United Bank for Africa (UBA) and Wema Bank, in separate communications to their customers, announced the restoration of international payment services on their naira cards.
In a notice to its customers, UBA said the reactivation of international transactions on its premium naira cards aligns with its commitment to delivering improved and seamless banking experiences.
“We are pleased to inform you that all UBA Premium Naira Cards, including Gold, Platinum, and World variants, are now enabled for international transactions,” the bank stated.
“This means you can now use your Premium Naira Card for global payments — including online shopping, POS, and ATM transactions — with ease and flexibility. If you haven’t used your card recently, now is a great time to rediscover the convenience and prestige that comes with being a UBA premium cardholder.”
Similarly, Wema Bank announced that its customers can now make dollar payments on international platforms using their naira Mastercards.
“Your Wema Naira Mastercard just went global!” the bank said. “Now you can pay in dollars on all your favourite international platforms — Amazon, eBay, AliExpress, Netflix, Spotify, YouTube.”
The development marks a major relief for Nigerian customers who have had to rely on dollar cards or alternative payment methods since most banks suspended international usage of naira cards in 2021 due to foreign exchange scarcity.
Flutterwave, Africa’s leading payments technology company, today announced the relaunch of its flagship remittance solution, Send App, across U.S. states following its newly acquired Money Transmitter Licences (MTLs).
This comes after Flutterwave secured 20 additional MTLs in the U.S., adding to the 14 licenses the brand has held since 2023.
Altogether, this achievement raises Flutterwave’s total number of direct licenses to 34, allowing the company to operate across many U.S. states and territories without partners or intermediaries.
Users in the U.S. can now send money to Nigeria, Ghana and Egypt, unlocking new remittance corridors that were previously unavailable.
Alongside this expansion, the onboarding process has been streamlined with a quick ID check, making it faster and easier for new users to get started.
Additional improvements include optimised payment support for US-issued Visa and Discover cards, enhanced security measures to safeguard transactions and maintain compliance, and improved in-app flows for a simpler, more efficient sending experience.
This return also highlights Flutterwave’s commitment to delivering a seamless, secure, and regulatory-compliant user experience for all Send App customers in the U.S. Users can now send money from DC, Georgia, Maryland, North Carolina, Michigan, South Carolina, Tennessee.
Other U.S. states and territories where Send App by Flutterwave supports outward remittances include Alaska, Arizona, Arkansas, Delaware, Idaho, Illinois, Indiana, Iowa, Louisiana, Maine, Minnesota, Mississippi, and Missouri, Nebraska, New Hampshire, New Mexico, North Dakota, Oklahoma, Oregon, Puerto Rico, Rhode Island, South Dakota, Utah, Washington, West Virginia, Wisconsin, and Wyoming.
Commenting on the relaunch, Olugbenga “GB” Agboola, Flutterwave Founder and CEO, said, “By expanding our reach and enhancing our services, we are empowering millions of Africans in the U.S. to maintain strong financial ties with their home countries, support their families, and contribute to economic development across the continent. Additionally, we are staying true to our core mission of bridging Africa with the global economy and vice versa.”
Earlier this year, Flutterwave integrated Swap into Send App for seamless FX transactions and strengthened its services in Ghana by securing approval for inward remittance from the Bank of Ghana.
Federal High Court in Abuja on Friday affirmed the authority of the Nigeria Inter-Bank Settlement System (NIBSS), to manage the Bank Verification Number (BVN), database across the country, in line with the Central Bank of Nigeria (CBN), Act and other relevant banking laws.
This is according to a judgment delivered by Justice James Omotosho on Friday.
Wolemi Esan, senior advocate of Nigeria, NIBSS’s counsel, and Kofo Abdulsalam-Alada, lead counsel for the CBN, among others, had sought a restraining order to prevent any institution in Nigeria from challenging the agency’s statutory authority to maintain and manage the BVN database.
This comes as NIBSS had alleged that Digital Rights Lawyers Initiative filed multiple suits, either directly or through proxies, challenging its authority to manage the BVN database and claiming that such management violates constitutional privacy rights.
However, Justice Omotosho, delivering his judgment, said the BVN does not infringe on the constitutional right to privacy.
“The initiative does not infringe on the constitutional right to privacy but rather serves as a necessary tool for safeguarding public interest and enhancing financial security.
“NIBSS has the power to manage the BVN,” the judge said, citing relevant CBN laws.
“The court grants the reliefs of NIBSS as prayed,” he stated.
Nigerian Banks End Years of Embargo, Resume Intl Transactions on Naira Cards
Flutterwave Secures 20 more US Money Transmitter Licences
Court Affirms NIBSS Authority to Manage BVN
NIMC Says NIN Services Back Online
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