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North Korea Lazarus Hackers Blamed for $100 Million Horizon Bridge Heist

By Ryan Naraine on June 30, 2022

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The notorious North Korean Lazarus hacking group is the prime suspect within the $100 million hack of Concord’s Horizon Bridge, in response to new knowledge and analysis from blockchain analytics agency Elliptic.

The multi-million compromise, confirmed by Concord earlier this month, led to the theft of ETH, BNB, USDT, USDC and Dai from the Horizon cross-chain bridge and now there’s proof linking the heist to Lazarus, a hacking outfit linked to the North Korean authorities.

Elliptic, a London-based blockchain evaluation agency, says the hackers have began shifting funds by means of Twister Money, a mixer sometimes used to cover cryptocurrency transaction trails.

“The Horizon Bridge hacker has to date despatched 41% of the $100 million in stolen crypto belongings into the Twister Money mixer,” Elliptic mentioned on Friday.  “[We used our] Twister demixing functionality to hint the entire stolen funds by means of Twister and onwards to different wallets,” the corporate added.

[ READ: U.S. Gov Blames North Korea Hackers for $600M Cryptocurrency Heist ]

Elliptic mentioned there are “sturdy indications” that North Korea’s Lazarus Group could also be chargeable for this theft, primarily based on the character of the hack and the next laundering of the stolen funds. 

The Lazarus hackers have been linked to the theft of greater than $2 billion in cryptocurrency belongings from exchanges, and DeFi companies.

The linking of Lazarus to this hack follows the U.S. authorities evaluation in April that the North Koreans had been chargeable for a $600 million Ronin Validator cryptocurrency heist that’s thought-about the second largest crypto theft of all time

The attribution was contained in a discover from the U.S. Treasury that introduced sanctions towards the Ethereum deal with that obtained the stolen funds.

[ READ: Hackers Steal Over $600M in Major Crypto Heist ]

In line with new knowledge from Elliptic, the thieves have already moved about $39 million by means of the Twister mixer in an try to interrupt the transaction path again to the unique theft. This makes it simpler to money out the funds at an change.

“The regularity of the deposits into Twister over prolonged intervals of time means that an automatic course of is getting used. We now have noticed very comparable programmatic laundering of funds stolen from the Ronin Bridge, which has been attributed to Lazarus, in addition to a variety of different assaults linked to the group,” Elliptic mentioned.

State-backed North Korean hacking teams have been actively focusing on cryptobanks and cryptocurrency exchanges with malware assaults with the Lazarus crew conducting APT assaults since a minimum of 2017.   

The hacking groups in North Korea have additionally been seen focusing on offensive safety researchers and utilizing a faux pen-test firm in assaults that make use of wealthy social engineering ways.  The APT group has additionally been caught sharing zero-day exploits for contemporary internet browsers.

Associated: Google Warning: North Korean Gov Hackers Focusing on Safety Researchers

Associated: North Korea Gov Hackers Caught Sharing Chrome Zero-Day

Associated: North Korean Hackers Again With Faux Pen-Check Firm

Associated: The Curious Case of the $600 Million Crypto Heist

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