![]() ![]() However, the fact that funds from the Harmony hack comprised such a substantial volume of the Ether passing through Railgun renders the mixing ineffective, Elliptic said.Īfter sending the funds through Railgun – about $60 million worth of Ethereum, according to FBI, Lazarus deposited them into three crypto exchanges. Before that, Lazarus had used the now-sanctioned Tornado Cash mixer to hide its transaction trail, according to Elliptic.Įlliptic’s research suggests that around 70% of funds that have been sent through Railgun to date came from the Harmony hack. In January 2023, Lazarus began sending the funds through a privacy protocol called Railgun, which functions similarly to a cryptocurrency mixer service. The hackers exposed themselves while trying to launder the money stolen from Horizon. “This means that any company that offers a financial gain to North Korean threat groups could be a target, particularly in the relatively unregulated cryptocurrency industry." How the FBI identified culprits ![]() “Cybercrime has become an essential cog in the survival of Kim’s dictatorship, enabling North Korea to evade international sanctions and fund its weapons programs,” said Kevin Bocek, vice president of security strategy and threat intelligence at Venafi. ![]() We have begun working with national authorities and forensic specialists to identify the culprit and retrieve the stolen funds. Researchers at blockchain analytics firm Elliptic linked it to Lazarus a few days after the incident.Īccording to the FBI, this is yet another case of North Korea’s theft and laundering of virtual currency that its government allegedly uses to support its ballistic missile and weapons of mass destruction programs.ġ/ The Harmony team has identified a theft occurring this morning on the Horizon bridge amounting to approx. The FBI's statement on Monday is the first official attribution of the Horizon hack to a North Korean state-sponsored group. The FBI accused the notorious North Korean hacker group Lazarus of stealing $100 million from a United States-based cryptocurrency firm last year.ĭuring a crypto heist at the end of June, Lazarus allegedly hacked Horizon Bridge, a service that allows people to move virtual assets between different blockchain networks and is owned by the blockchain company Harmony. FBI: North Korean hacking group Lazarus behind $100 million crypto heist ![]()
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