'We'll leave no stone unturned': WazirX CEO founder and CEO on $235 million hack by North Korea’s Lazarus Group

The United States, South Korea, and Japan have jointly confirmed that North Korea’s Lazarus Group orchestrated the $235 million hack on the Indian cryptocurrency exchange WazirX. The revelation came in an official statement highlighting the scale of the cyber threat posed by the Democratic People’s Republic of Korea (DPRK).

Nischal Shetty, Founder and CEO of WazirX, took to social media platform X to react to the announcement, urging swift international action to recover the stolen assets. “This is a critical moment. We urge swift international action and support to recover the stolen assets,” he wrote, adding, “Rest assured, we will leave no stone unturned in our pursuit of justice.”

The attack, which took place in December 2024, exploited vulnerabilities in WazirX’s system, enabling the Lazarus Group to siphon $235 million worth of cryptocurrency. Known for its expertise in cyber warfare and hacking campaigns, the Lazarus Group has been linked to several high-profile cyberattacks globally, often aimed at funding North Korea’s sanctioned regime.

The US, South Korea, and Japan’s joint statement emphasized the urgency of addressing such cyber threats and urged global stakeholders to strengthen their cybersecurity measures. “The DPRK’s cyber actors are targeting financial institutions and cryptocurrency exchanges to evade sanctions and fund its weapons programmes,” the statement read.

Shetty’s tweet further called for international solidarity to combat the growing menace of state-sponsored cybercrime. “Joint statement from the United States, Japan, and South Korea addressing the alarming cyberattacks by DPRK cyber actors, including the WazirX hack,” he posted, sharing the official press release for added transparency.

The WazirX team is reportedly working with global cybersecurity experts, law enforcement agencies, and blockchain analytics firms to trace the stolen funds. Industry insiders speculate that recovering such a large amount will be challenging, but not impossible, given blockchain’s inherent traceability.

The incident has reignited discussions on cybersecurity in the cryptocurrency sector, particularly in India, where the digital assets industry is growing rapidly. Experts are urging stronger international collaboration to tackle such crimes and mitigate risks in decentralised finance.