3 months ago
ALEX Lab, a Bitcoin DeFi application, has linked its caller exploit to the notorious North Korea-backed Lazarus Group.
Last month, ALEX Lab suffered a important information breach that resulted successful the loss of implicit $4 million worthy of assorted tokens aft attackers gained entree to the backstage cardinal controlling its XLink bridge.
In a June 15 statement, the task highlighted 3 crypto wallet addresses “crucial successful tracing the culprits and the travel of stolen assets.” These addresses interacted with a Lazarus-related address, sending funds to a Tron code regularly utilized by the group.
As a result, it was concluded that the hacking incidental was connected to the nefarious hacking group. It stated:
“After extended forensic investigation and investigations facilitated by blockchain expert ZachXBT who provided captious assistance connected transaction tracing, determination is important transaction grounds linking the onslaught to the Lazarus Group, a notorious hacker corporate believed to beryllium associated with the North Korean government.”
Over the past fewer years, Lazarus Group has emerged arsenic 1 of the astir notorious hacking groups targeting the crypto industry. A Chainalysis study estimated that the North Korean hackers person stolen implicit $3 cardinal successful the past 5 years.
No plus recovery
Meanwhile, ALEX Lab revealed that astir stolen STX tokens were frozen connected centralized exchanges (CEXs). It added that it volition pass users erstwhile the funds go disposable for return.
The task explained:
“Many of those STX that we traced to CEXs are presently frozen with the applicable exchanges indicating that they volition proceed to frost stolen assets pending the constabulary investigations.”
Further, it stated that it collaborated with the Singapore Police Force and cybersecurity experts to retrieve the stolen assets.
In the meantime, Alex Lab has resumed astir of its operations, including token migration and reopening unaffected liquidity providers.
The station Bitcoin DeFi app ALEX Lab links $4 cardinal exploit to Lazarus Group appeared archetypal connected CryptoSlate.
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