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North Korea's infamous Lazarus Group is imitating venture capital firms and banks to steal cryptocurrency, according to a report from cybersecurity company Kaspersky.

The state-sponsored cybercrime group, which was behind the $625 million Axie Infinity hack in April, is building websites that lure people into thinking that they’re from well-known Japanese, US, and Vietnamese companies.

Kaspersky said Lazarus' BlueNoroff subgroup is using new types of malware delivery methods that bypass security warnings about downloading content. They can then "intercept large cryptocurrency transfers, changing the recipient's address, and pushing the transfer amount to the limit, essentially draining the account in a single transaction."

Kaspersky's lead security researcher said in a statement that 2023 will be marked by cyberattacks of unprecedented strength, and companies must work diligently to bolster security measures.

Ari Redbord, head of legal and government affairs at blockchain analytics firm TRM Labs, estimated that North Korea was responsible for more than $1 billion of the record $3.7 billion that crypto hackers around the globe swindled over the past year.

"When you're talking about billions of dollars and North Korea, you're talking about a country with essentially no GDP, so they've essentially created an economy laundering cryptocurrency and we know those funds aren't going to fund a lifestyle," Redbord told Insider. "They'll be used for nuclear proliferation or ballistic missile systems. In 2022, these hacks moved from being a law enforcement issue to being a national security issue."