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FBI: Lazarus Group was in charge of the $100 million Horizon Bridge hack.

WikiBit 2023-01-25 14:19

Abstract:The $100M Horizon bridge attack was carried out by state-sponsored hackers, according to the FBI. Over 124 stolen BTC were recovered by Binance and Huobi. It is said that North Korea uses currency theft to pay for its nuclear arsenal.

  The $100 million Harmony Horizon attack last year was carried out by the Lazarus Group and APT38 of North Korea, according to the FBI.

  In 2022, there was a widespread use of DeFi protocol exploits, with cross-chain bridge attacks inflicting the most harm. In DeFi hacks last year, cross-chain bridge hacks made up 50% of all attacks. Hackers successfully stole more than $500 million each from notable targets like the Binance Bridge, Poly Network, and Ronin Bridge.

  Activities between various blockchains can be facilitated through cross-chain bridges even without requirement for a central authority.

  Hackers used the Harmony Horizon Bridge, the link connecting Harmony and other blockchains, to steal $100 million in June 2022. In a news release on Monday, the Federal Bureau of Investigation (FBI) stated that the breach was carried out by the Lazarus Group and APT38 in North Korea.

  Lazarus Group, a State Sponsor, took $100 million from Horizon Bridge.

  Lazarus Group and APT38 were accountable for the $100 million hack, according to the FBI's investigations, which were conducted in conjunction with the National Cryptocurrency Enforcement Team and other agencies. Cybercriminal organizations Lazarus Group and APT38 are connected to the North Korean government.

  On January 13, the hackers stole almost $60 million worth of Ethereum using the privacy protocol Railgun. On January 16, ZachXBT, an on-chain sleuth, observed this behaviour and reported it. Utilizing more than 350 addresses, the North Korean exploiters transferred the money to three different exchanges.

  

  However, Binance and Huobi worked together to halt the flow of the stolen money and were able to retrieve over 124 BTC.

  The FBI has also provided a list of wallets which are presently being utilized to store Bitcoin-based cryptocurrency that has been stolen.

  

  Lazarus Group and APT38 were also implicated by the FBI in last year's $615 million Ronin Bridge hack. One of the biggest crypto vulnerabilities ever was used in this attack.

  Does North Korea utilize cryptocurrencies to finance WMDs?

  Numerous cryptocurrency thefts have been committed by North Korean hackers. Over $1 billion in cryptocurrency has reportedly been stolen in the last five years by hackers associated with the country. North Korean attackers most reportedly stole about 1,000 NFTs and 300 ETH in December 2022.

  According to a press statement from the FBI, North Korea uses cryptocurrency theft to fund its development of ballistic missiles and WMD. According to rumors, Virgil Griffith, a former Ethereum developer, is assisting the North Korean regime in its nefarious endeavors.

  

  

  As a reminder, WikiBit is ready to help you search the qualifications and reputation of projects in a bid to protect you from hidden dangers in this risky industry!

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