North Korea hackers Lazarus Group poses as Fenbushi partner on LinkedIn

Lazarus Group, a North Korea-backed hacker group, has targeted LinkedIn users via a new phishing scam attack.

According to blockchain security firm SlowMist, the Lazarus Group created a fake LinkedIn profile, posing as “Nevil Bolson, Founding Partner at Fenbushi Capital. Fenbushi is a Chinese blockchain asset management and venture capital firm.

New Lazarus Group phishing scam

The hackers allegedly used the fake LinkedIn page to target unsuspecting users. To fool victims, the hackers used the picture of Remington Ong, who is the genuine Fenbushi Capital partner.

Per SlowMist, the phishing scheme made initial contact by chatting targets with investment offers. The next steps included offers for meetings and networking. Links sent for the purported meeting are the ones the hackers used to launch the phishing attacks.

On Monday, SlowMist’s chief information security officer and researcher shared a screenshot that shows the fraudulent LinkedIn page.  The latest post is one where the impostor is targeting software developers.

🚨Watch out for the #Lazarus 🥷🇰🇵 attack on the fake Fenbushi Capital on linkedin! @fenbushi @SlowMist_Team @boshen1011 @VitalikButerin 👇 pic.twitter.com/cAjAcPqkNj

— 23pds (@im23pds) April 29, 2024

Lazarus Group is one of the most active hacker groups, with the North Korea-backed malicious actors responsible for attacks in some of the biggest crypto crimes in the industry. The hacks have led to the theft of millions of dollars.

US sanctioned the Lazarus Group

The LinkedIn phishing scheme is not Lazarus Group’s first. As Invezz highlighted, the hacker collective was behind an extensive fake LinkedIn jobs advert that targeted several companies in 2020.

In 2022, the US Department of the Treasury’s Office of Foreign Assets Control (FDAC), added Lazarus Group to its Specially Designated Nationals and Blocked Person’s List (SDN).

This came as blockchain security reports linked the hackers to the $625 million hack on the Ronin Network.

Across board, the group is estimated to have brought in roughly 50% of North Korea’s foreign currency. According to a UN Security Council report, most of these funds have gone into Pyongyang’s weapons development program.

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