The Lazarus Heist S2: 1. Jackpotting

The Lazarus Group, a state-sponsored North Korean hacking collective, orchestrates sophisticated global cyberattacks, most notably the 2018 heist against India’s Cosmos Bank. This operation utilized "jackpotting," a technique involving malware that forces ATMs to dispense cash simultaneously across multiple countries. By compromising the bank’s internal ATM switch, the hackers intercepted and authorized fraudulent withdrawal requests, effectively bypassing standard security protocols. The attack involved thousands of coordinated transactions across 28 countries within a two-hour window, demonstrating high-level logistical planning and technical expertise. Security researchers, including Adrian Nish from BAE Systems, identified the group's involvement through command and control server monitoring. While the technique mirrors earlier research by the late Barnaby Jack, the Lazarus Group’s ability to scale this method globally highlights the evolving and aggressive nature of state-backed financial cybercrime.