The main suspect in the last week's $100 million Horizon Bridge coin theft is North Korean hackers. The Lazarus Group, a hacking unit with ties to the Democratic People's Republic of Korea, is believed to have been behind the theft. The FBI attributed the $625 million robbery of Axie Infinity to Lazarus, as well as the hack. According to Elliptic, there are strong indications that North Korea's Lazarus Group may be responsible for the theft. There are no single factors that prove the involvement of Lazarus, but they suggest the group's involvement. Chainalysis agreed with Elliptic. The most recent hack happened late last week and involved California-based firm Harmony, which offers a "Horizon Bridge." The usernames and passwords were targeted by the hackers. The group responsible is the subject of a global hunt. The company did not reply immediately to the request for comment. The hackers moved quickly to move those assets. The report states that the hacker had sent almost half of the stolen assets through the Tornado Cash mixer. Chainalysis was able to back up that analysis on Thursday. Chainanlaysis said that the attack was similar to previous attacks that were attributed to the Democratic People's Republic of Korea.
In a statement Wednesday, the company said it had notified law enforcement and was looking for the culprits. The company told the hackers to return the stolen funds and keep $10 million.
There is no honor among thieves. We are giving you $10 million for information that leads to the return of stolen funds. Voluntary recovery is unlikely because of Elliptic's recent analyses showing the rapid rate at which the hackers are laundered the funds.
North Korea lacks basic internet, electricity, food, and human rights, but its state-supported hacking groups have a knack for theft. In April, the FBI blamed North Korea's Lazarus Group for a $625 million theft of cryptocurrencies from the RoninBlockchain. The hackers stole 173,600 ether and 25.5 millionUSDC.
This isn't a new thing. The Department of Homeland Security issued an alert earlier this year stating that the Lazarus Group had been involved in various forms of theft.
According to the agency, North Korea's Lazarus Group actors have targeted various firms, entities, and exchanges in the Blockchain and Cryptocurrencies industry. The actors are likely to exploit the vulnerabilities of cryptocurrencies technology firms, gaming companies, and exchanges to generate and launder funds.
According to the Department of Justice, the Lazarus Group has made off with over a billion dollars in cryptocurrencies.
While North Korea has focused on largely unregulated Cryptocurrencies as of late, its experience with digital theft and complex online heists far precedes them. According to reports, the country's hacking teams were responsible for the Sony leaks as well as the WannaCry outbreak.
All Rights Reserved © 2024
