FBI Blames North Korean Hackers for $100 Million Crypto Heist (Again)

The FBI says that cybercriminals linked to the North Korean regime are liable 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 printed a short assertion explaining that it had lately completed an investigation confirming that the well-known North Korean hacker group generally known as “Lazarus” was liable for the hack. The hack concerned the focusing on of a crypto “bridge”—a form of digital asset switch mechanism that have grow to be frequent targets for hackers in recent times. The assault, which passed off final June, exploited safety vulnerabilities inside Concord’s Ethereum based mostly bridge, Cointelgraph experiences.

Officers say that on Jan. 13 of this yr, cash stolen through the heist (a whopping $60 million in tokens) was laundered by North Korean hackers into varied crypto wallets utilizing a privateness protocol generally 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 regularly 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 also be alleged to have compromised the Ronin Bridge, a preferred crypto challenge. 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 regulation enforcement companions to “determine and disrupt North Korea’s theft and laundering of digital foreign money, which is used to assist North Korea’s ballistic missile and Weapons of Mass Destruction applications.”