The FBI says that cybercriminals linked to the North Korean regime are chargeable for an assault on a U.S.-based crypto challenge, Concord Protocol, that led to over $100 million in losses final yr.
On Monday, the FBI revealed a brief statement explaining that it had not too long ago completed an investigation confirming that the well-known North Korean hacker group often known as “Lazarus” was chargeable for the hack. The hack concerned the concentrating on of a crypto “bridge”—a form of digital asset switch mechanism that have turn into common targets for hackers in recent times. The assault, which passed off final June, exploited safety vulnerabilities inside Concord’s Ethereum primarily based bridge, Cointelgraph reports.
Officers say that on Jan. 13 of this yr, cash stolen throughout the heist (a whopping $60 million in tokens) was laundered by North Korean hackers into numerous crypto wallets utilizing a privateness protocol often known as “Railgun.” A few of these funds have been subsequently “frozen” by the crypto service suppliers controlling the wallets.
For years, cybercriminals linked 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 often use the cash stolen in crypto hacks to assist finance the regime’s initiatives—together with its nuclear weapons program. Final yr, the Lazarus group can be alleged to have compromised the Ronin Bridge, a well-liked crypto challenge. The hackers finally 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 forex, which is used to assist North Korea’s ballistic missile and Weapons of Mass Destruction applications.”
