FBI Says North Korea Responsible for $100 Million Harmony Protocol Crypto Hack

FBI Says North Korea Responsible for $100 Million Harmony Protocol Crypto Hack

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The FBI says that cybercriminals related to the North Korean regime are accountable for an assault on a U.S.-based crypto mission, Harmony Protocol, that led to over $100 million in losses final 12 months.

On Monday, the FBI printed a brief statement explaining that it had lately completed an investigation confirming that the well-known North Korean hacker group generally known as “Lazarus” was accountable for the hack. The hack concerned the focusing on of a crypto “bridge”—a type of digital asset switch mechanism that have develop into common targets for hackers in recent times. The assault, which passed off final June, exploited safety vulnerabilities inside Harmony’s Ethereum based mostly bridge, Cointelgraph reports.

Officials say that on Jan. 13 of this 12 months, cash stolen in the course of the heist (a whopping $60 million in tokens) was laundered by North Korean hackers into varied crypto wallets utilizing a privateness protocol generally known as “Railgun.” Some of these funds have been subsequently “frozen” by the crypto service suppliers controlling the wallets.

For years, cybercriminals related to the Hermit Kingdom have been blamed for high-profile hacks on web3 tasks. Researchers say that the DPKR’s hackers aren’t simply lining their very own pockets, however incessantly use the cash stolen in crypto hacks to assist finance the regime’s initiatives—together with its nuclear weapons program. Last 12 months, the Lazarus group can be alleged to have compromised the Ronin Bridge, a preferred crypto mission. The hackers in the end made off with over $600 million {dollars} in property, making it one of many largest crypto heists in historical past.

The FBI says that it continues to work along with its regulation enforcement companions to “establish and disrupt North Korea’s theft and laundering of digital foreign money, which is used to assist North Korea’s ballistic missile and Weapons of Mass Destruction applications.”