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Sandeep Kumar Mishra
Jan 24, 2023
by Sandeep Kumar Mishra

FBI Says North Korea's Lazarus Group Behind the $100 Million Harmony Hack

Lazarus Group Harmony Hack

Table of contents

  1. Lazarus Group Behind the 2022 Harmony Hack
  2. Binance Assisted with the Recovery of Stolen Funds
Lazarus Group and APT38, two hacking groups with ties to North Korea, were responsible for $100 million Harmony Hack in June, the Federal Bureau of Investigation said on Monday. The North Korea-linked cyber group had long been suspected of being behind the attack but their involvement hadn’t been confirmed by authorities until now.

Lazarus Group Behind the 2022 Harmony Hack

The Harmony Bridge hack in 2022 was the result of security holes in Harmony’s Horizon Ethereum bridge that allowed the cyber attackers to swipe a number of assets stored in the bridge via 11 transactions.

The FBI also outlined that the North Korean hackers started shifting around $60 million worth of the stolen funds earlier this month via the Ethereum-based privacy protocol RAILGUN. Blockchain sleuth ZachXBT previously highlighted such via Twitter on Jan. 16.

Binance Assisted with the Recovery of Stolen Funds

Notably, Binance detected the hackers were trying to launder the funds through the Huobi crypto exchange, and then promptly assisted it in freezing and recovering the digital assets deposited by the hackers, according to CEO Changpeng Zhao.

In its statement, the FBI said its cyber and virtual assets units, as well as the U.S. Attorney's Office and the U.S. Justice Department's crypto unit, have continued “to identify and disrupt North Korea’s theft and laundering of virtual currency, which is used to support North Korea’s ballistic missile and Weapons of Mass Destruction programs."

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FBI Lazarus Group Harmony Hack
FBI Says North Korea's Lazarus Group Behind the $100 Million Harmony Hack
Sandeep Kumar Mishra
Sandeep is an avid cryptocurrency enthusiast and a keen & passionate blogger. He has a strong mix of skills in the areas of computer networking, cryptography, algorithms, and data structures and specializes in ERC20 tokens. Lately, he is taking a lot of interest in blockchain-powered AI solutions, about which he is also reading and writing extensively. He has to his name dozens of deeply researched articles about cryptocurrencies, blockchain, AI, and IoT. Apart from that, he loves to keep track of the latest trends in social media and digital marketing space. Also, as a huge proponent of blockchain and cryptocurrencies, Sandeep tries to deliver all the latest cryptocurrency news to ardent crypto supporters like yourselves. If you like his content, feel free to follow him on LinkedIn.

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