$100 million Crypto Heist May Be the Work of State-Sponsored North Korean Hackers.
Crypto Heist Story:
The $100 million onslaught against cryptocurrency project Harmony’s ONE/USD Horizon Bridge was most likely carried out by The Lazarus Group.
A hacker group purportedly funded by the North Korean government.
What Took Place: According to Elliptic, a blockchain analytics company, the hack and subsequent money laundering are consistent with the Lazarus Group’s operations.
On June 24, hackers broke into the Horizon Bridge and took $100 million worth of cryptocurrencies, including Ethereum ETH/USD, Wrapped Bitcoin WBTC/USD, and Binance Coin BNB/USD.
Elliptic was able to follow the money being laundered from the Tornado Cash TORN/USD currency mixing tool to a number of Ethereum wallets.
The criminal is attempting to obliterate the transaction trace leading back to the initial theft by moving these cash through Tornado.
This makes it simpler to withdraw the money from an exchange,” Elliptic wrote in the paper.
A bit more than 35,000 ETH, totaling about $39 million, have been sent to Tornado Cash as of this writing.
A number of significant crypto thefts, notably the $540 million Ronin Bridge attack, have been connected to the Lazarus Group.
Elliptic calculates that the organization has gathered more than $2 billion in total stolen money.
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