Crypto Heist: North Korea May Behind New Multi-Million Dollar Crypto Heist | news

• A group of hackers are said to have carried out an attack on the Horizon blockchain bridge

• The perpetrators are said to have been members of the Lazarus group backed by the North Korean government

• The damage amounts to about 100 million US dollars

Hacker attack on crypto protocol

The crypto world has been shaken by yet another attack: The North Korean hacker syndicate known as the Lazarus Group is suspected of having carried out the recent predator attack on the blockchain bridge Horizon. A total of $ 100 million was stolen in the robbery. A report by blockchain analysis firm Elliptic shows clear parallels between the modus operandi of this attack and previous attacks by the Lazarus group. Both the method of the hacks themselves and the way in which the stolen digital assets were subsequently laundered are said to have a serious resemblance to patterns typical of the Lazarus Group.

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The report goes on to detail how the hackers went about their attacks. First, the Lazarus team secured the credentials for Harmony employees in Asia Pacific, which they use to break down barriers in the protocol’s security system. In the next step, the attackers used automatic money laundering programs to move the stolen assets in the middle of the night. According to Elliptic, the hackers have already managed to transfer more than 40 percent of the $ 100 million to the Tornado Mixer. The so-called “mixer service” based on Ethereum serves to obscure the transaction data and to put obstacles in the way of investigators trying to track the transactions.

As the Cointelegraph reports, Harmony’s team has already offered a reward of $ 1 million in an attempt to entice hackers to return the stolen funds. Meanwhile, the team has increased the reward to $ 10 million and has also assured that if the assets are returned in full, there will be no further investigation or prosecution.

North Korea is the world champion when it comes to cryptocurrency

As CNBC reports, this robbery by the Lazarus group is by no means the first of its kind. In April this year, $ 600 million was stolen in an attack on the Ronin Bridge. This action was also attributed to the Lazarus group supported by the North Korean government because of the typical pattern. The similarities with the current attack can not be overlooked: the choice of a “cross-chain” bridge as a target, compromising passwords for a “MultiSig” wallet so that only a handful of signatures are required to initiate transactions, “programmatic” transfer of assets in steps every few minutes, as well as moving assets during the night hours in the Asia-Pacific region.

The North Korean regime has now reached the top of the world when it comes to cryptocurrency. According to a Coinclub.com report, the communist country has already hired 7,000 full-time hackers whose sole job is to raise as much money as possible for the regime through cyber attacks, ransomware and crypto protocol hacking. A total of $ 1.59 billion has been stolen in over 15 documented cases of cyber attacks launched from North Korea.

Thomas Weschle / Editor finanzen.net

Image sources: BeeBright / Shutterstock.com, GlebSStock / Shutterstock.com

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