HomeNewsFBI 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 liable for an assault on a U.S.-based crypto mission, Concord Protocol, that led to over $100 million in losses final 12 months.

On Monday, the FBI revealed a short assertion explaining that it had just lately completed an investigation confirming that the well-known North Korean hacker group often known as “Lazarus” was liable for the hack. The hack concerned the concentrating on of a crypto “bridge”—a type of digital asset switch mechanism that have grow to be frequent targets for hackers in recent times. The assault, which befell final June, exploited safety vulnerabilities inside Concord’s Ethereum based mostly bridge, Cointelgraph reviews.

Officers 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 often known as “Railgun.” A few of these funds had 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 initiatives. Researchers say that the DPKR’s hackers aren’t simply lining their very own pockets, however regularly use the cash stolen in crypto hacks to assist finance the regime’s initiatives—together with its nuclear weapons program. Final 12 months, the Lazarus group can also be alleged to have compromised the Ronin Bridge, a well-liked 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 legislation enforcement companions to “determine and disrupt North Korea’s theft and laundering of digital foreign money, which is used to help North Korea’s ballistic missile and Weapons of Mass Destruction packages.”

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