Crypto Heist: North Korea Could Be Behind The Latest Multimillion Crypto Heist | News

• A group of hackers is said to have launched an attack on the Horizon blockchain bridge

• The originators are said to be members of the Lazarus Group, supported by the North Korean government

• Damage is approximately $ 100 million

Hacking attack on the crypto protocol

The cryptocurrency world was shaken by another attack: a North Korean hacker syndicate known as the Lazarus Group is suspected of carrying out the recent predatory attack on the Horizon blockchain bridge. A total of $ 100 million was stolen during the robbery. A report from blockchain analytics firm Elliptic shows clear parallels between the modus operandi of this attack and earlier attacks by Lazarus. Both the methodology of the intrusions themselves and the way in which the stolen digital assets were then laundered bear a serious resemblance to the patterns typical of the Lazarus Group.

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The report details how the hackers carried out the attack. First, the Lazarus Group has secured the credentials of Harmony employees in the Asia-Pacific region, which they use to break through the protocol’s security system barriers. In the next step, the attackers used automated money laundering programs to move stolen assets in the middle of the night. According to Elliptic, hackers have already managed to donate more than 40 percent of the $ 100 million to the Tornado Mixer. The so-called “mixer service” based on Ethereum is used to obfuscate transaction data and put obstacles in the way of investigators trying to track transactions.

As reported by Cointelegraph, the Harmony team has already offered a $ 1 million reward in an attempt to persuade hackers to return the stolen funds. The team meanwhile increased the prize to $ 10 million and also ensured that if the property was returned in full, there would be no further investigation or criminal prosecution.

North Korea is the world champion when it comes to crypto crime

This Lazarus robbery is not the first of its kind, reported by CNBC – 600 million dollars were stolen during the attack on the Ronin Bridge in April this year. This activity has also been attributed to the Lazarus group supported by the North Korean government because of its typical pattern. The similarities to the current attack cannot be overlooked: choosing a cross-chain bridge as a target, cracking passwords to the “MultiSig” wallet so that only a handful of signatures are needed to initiate a transaction, “software” transfer of resources in increments of every few minutes, and Also, overnight shipments of resources in the Asia-Pacific region.

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

Thomas Weschle / Editor of finanzen.net

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