A cyberattack on the UK-based crypto exchange Lykke has left users grappling with a $23 million loss and legal action against the company’s founder. The stolen funds are linked to North Korea’s notorious Lazarus Group, which experts say is using this illicit cash for military projects. 70+ lawsuits have been filed by affected users demanding compensation, while the exchange’s operations were halted in March following the breach. The incident has drawn attention to cybersecurity vulnerabilities within the crypto industry and fueled calls for stricter regulatory measures. Richard Olsen, founder of Lykke, declared bankruptcy as a result of the attack and the company’s subsequent closure. The scandal has prompted discussions about the lack of licensing on the exchange, raising concerns over its legitimacy and compliance. The incident also underscores the continued threat posed by North Korea’s cyberwarfare tactics in manipulating crypto markets for illicit activities.