North Korea-linked Hackers Stole $13.5 Million From Cosmos Bank
The North Korea-linked hacking group Lazarus is said to have stolen $13.5 million in a recent cyber-attack targeting SWIFT/ATM infrastructure of Cosmos Bank.
The attackers likely gained access to the bank’s systems via spear phishing and/or remote administration/third-party interface and used multiple attack techniques to steal funds. The theft took place between August 10 and 13, 2018, according to researchers from Securonix.
Believed to be backed by the North Korean government, the Lazarus group was said last year to be the most serious threat to banks. This year, the hackers also focused heavily on crypto-currency exchanges and have been involved in numerous attacks against such organizations.
A recent report also revealed that most malware families originating from North Korea can be linked to Lazarus via code reuse.
Now, Securonix security researchers reveal that Lazarus was behind a high-profile ATM/SWIFT banking attack involving the Cosmos Bank, a 112-year old cooperative bank in India and the second largest in the country.
As part of the incident, the hackers are believed to have leveraged a previously established foothold before compromising the bank’s internal and ATM infrastructure on August 10-11.
Likely abusing vendor ATM test software or modifying the currently deployed ATM payment switch software, they set up a malicious ATM/POS switch and hijacked the connection between the central switch and the backend/Core Banking System (CBS).
Next, they made adjustments to the target account balances to enable withdrawals and leveraged the malicious switch to authorize ATM withdrawals for over $11.5 million in tens of thousands of domestic and international transactions, using 450 cloned (non-EMV) debit cards in 28 countries.
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