Lazarus hackers engage in ‘FASTCash’ scheme to steal tens of millions of dollars from ATMs

The notorious hackers have been striking ATMs since 2016 in a pivot from disruptive attacks such as WannaCry

Person entering their PIN number into an ATM machine

The North Korean hacking group behind the WannaCry ransomware attack that crippled the NHS has been stealing money from ATMs since at least 2016.

Cyber crime and espionage outfit Lazarus has gained a reputation for disruptive and politically-motivated attacks. But researchers have found evidence that reinforces claims the group has increasingly gravitated towards financial crime in recent years.

Advertisement - Article continues below

The group has been fraudulently emptying ATMs across Asia and Africa in an operation dubbed "FASTCash", according to Symantec, by breaching banks' networks, and injecting a malware into switch application servers that handle transactions.

The 'Trojan.Fastcash' malware, previously unknown to security researchers, intercepts fraudulent Lazarus cash withdrawal requests and sends fake approval responses, which in turn allows the attackers to steal cash from ATMs.

The attacks have so far been confined to Africa and Asia, and directed at the financial sector, but that's not to say Lazarus won't target the UK at some future data, according to security threat researcher at Symantec Dick O'Brien.

"Lazarus has, since 2016, diversified into financially motivated attacks. It began first by directly attacking banks, such as the Bangladesh bank heist, which netted it $81 million," O'Brien told IT Pro.

"We don't know for sure why they've shifted to ATM attacks, but it's likely that most banks became wise to the tactics they used in 2016 bank heists and beefed up their security, prompting Lazarus to find an alternative means of attack, another weak point."

One incident in 2017 saw cash withdrawn simultaneously from ATMs in over 30 different countries, according to an official US government alert issued earlier this month. Another major incident this year saw cash taken from 23 countries simultaneously, with the total FASTCash haul estimated at tens of millions of dollars.

Advertisement
Advertisement - Article continues below
Advertisement - Article continues below

In order to carry out a successful attack, the hackers first inject their malware into banking application servers running unsupported versions of the AIX operating system. This allows Lazarus to intercept fraudulent transaction requests, prevent them from reaching the switch application that processes transactions, as well as generate fake approvals.

"The recent wave of FASTCash attacks demonstrates that financially motivated attacks are not simply a passing interest for the Lazarus group and can now be considered one of its core activities," Symantec's security response attack investigation team said.

"As with the 2016 series of virtual bank heists, including the Bangladesh Bank heist, FASTCash illustrates that Lazarus possesses an in-depth knowledge of banking systems and transaction processing protocols and has the expertise to leverage that knowledge in order to steal large sums from vulnerable banks."

Alongside disruptive operations such as the Sony Pictures hack, and malware that struck the Winter Olympics, Lazarus has often engaged in financially-motivated crime in recent years; most infamously the WannaCry ransomware attack.

The Department for Health and Social Care (DHSC) last month estimated the crippling attack cost the health service 92 million, with the vast majority of this sum spent on restoring services and recovering data.

Featured Resources

Preparing for long-term remote working after COVID-19

Learn how to safely and securely enable your remote workforce

Download now

Cloud vs on-premise storage: What’s right for you?

Key considerations driving document storage decisions for businesses

Download now

Staying ahead of the game in the world of data

Create successful marketing campaigns by understanding your customers better

Download now

Transforming productivity

Solutions that facilitate work at full speed

Download now
Advertisement

Recommended

Visit/security/ransomware/356292/university-of-california-gets-fleeced-by-hackers-for-114-million
ransomware

University of California gets fleeced by hackers for $1.14 million

30 Jun 2020
Visit/security/cyber-security/356289/australia-announces-135b-investment-in-cybersecurity
cyber security

Australia announces $1.35 billion investment in cyber security

30 Jun 2020
Visit/cloud/cloud-security/356288/csa-and-issa-form-cybersecurity-partnership
cloud security

CSA and ISSA form cyber security partnership

30 Jun 2020
Visit/security/ethical-hacking/356252/poorly-secured-banking-apps-lead-to-cyber-threats
ethical hacking

Mobile banking apps are exposing user data to attackers

26 Jun 2020

Most Popular

Visit/mobile/google-android/356373/over-2-dozen-additional-android-apps-found-stealing-user-data
Google Android

Over two dozen Android apps found stealing user data

7 Jul 2020
Visit/laptops/29190/how-to-find-ram-speed-size-and-type
Laptops

How to find RAM speed, size and type

24 Jun 2020
Visit/cloud/356260/the-road-to-recovery
Sponsored

The road to recovery

30 Jun 2020