2 years ago
Notorious North Korean hacker radical Lazarus is apt down the caller exploit of Harmony skyline bridge, starring to the loss of $100 million, says Elliptics.
In its report connected the hack, the blockchain analytics steadfast said the strategies employed for the onslaught are akin to those utilized for the Ronin Bridge exploit a fewer months ago.
The hacker stole $100 cardinal worthy of assets successful antithetic cryptocurrencies specified arsenic ETH, WBTC, USDT, and BNB. But they instantly converted everything into ETH utilizing Uniswap (UNI). Elliptics explained that this is simply a communal laundering method that criminals use.
Although the theft happened connected June 24, the hacker did not determination the funds until June 27. The hackers person moved astir 41% of the funds — equivalent to astir 39,000 ETH — done Tornado Cash to marque the funds untraceable arsenic of property time.
But Elliptics claimed it utilized transaction screening bundle to hint the stolen funds passing done Tornado currency to caller wallets.
Why Elliptics is linking the hack to Lazarus Group
According to the blockchain analytics firm, its investigation of the hack and laundering shows that it is accordant with however the Lazarus radical operates. While determination is thing conclusive to beryllium this, circumstantial grounds points to it.
Lazarus Group is 1 of the world’s astir palmy crypto hacking groups, with implicit $2 cardinal successful proceeds. In caller years, it has started exploiting cross-chain bridges and was responsible for the Ronin Bridge that outgo Axie Infinity astir $600 million.
Additionally, the hacker compromised keys to a multi-sig wallet to perpetrate the theft, which is accordant with the methods utilized by the Lazarus Group.
The steadfast besides pointed retired that Harmony falls into the illustration of Lazarus Group targets. Although US-based, galore of Harmony’s halfway squad members person links successful the Asia Pacific region, wherever Lazarus Group usually focuses.
Furthermore, the consistency of deposits done Tornado currency and the play erstwhile the deposits happened is accordant with the Lazarus Group laundering of Ronin span funds and APAC nighttime hours.
However, the steadfast added that it would proceed its investigations.
North Korea’s crypto theft links
North Korea has go the boogeyman for crypto projects successful caller years. A survey by Coincub estimated that the state is starring successful crypto crimes globally.
Unlike different countries wherever crypto crimes are mostly underground, astir reports constituent to crypto theft successful North Korea being state-sponsored. A UN report earlier this twelvemonth claims North Korea is funding its ballistics and weapons programs with stolen crypto.
The station North Korea’s Lazarus Group linked to $100M Harmony exploit appeared archetypal connected CryptoSlate.
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