The FBI Believes North Korean-Linked Hackers Are Responsible For A $100 Million Cryptocurrency Heist

According to the Federal Bureau of Investigation, North Korean-linked criminals were responsible for the loss of $100 million last year through a crypto product breach.

The FBI said that it was “able to corroborate” that the Lazarus Outfit, a Pyongyang-linked hacking group also known as APT38, was responsible for the 2022 assault on the so-called Horizon Bridge.

Traders use a bridge to transfer cryptocurrency across blockchain networks.

The FBI also said that North Korean hackers used Railgun technology this month to get rid of about $60 million in the token ether that was stolen in the June 2022 heist. Railgun is a mechanism meant to allow users to move bitcoin anonymously.

According to the FBI, a portion of the stolen ether was transmitted to multiple virtual asset service providers and converted to bitcoin.

At the time of the breach, Elliptic, a blockchain analytics company, said there were “strong signs” that Lazarus was behind the attack. The hackers sought to relocate the funds very soon in order to disguise their identities.

The FBI said that it is still working to “discover and prevent North Korea's theft and laundering of virtual currency, which is utilized to finance North Korea's ballistic missile and Weapons of Mass Destruction programs.”

Other crypto attacks have been connected to North Korean attackers.

The US Treasury Department accused Lazarus of a $600 million robbery on Ronin Network, a “sidechain” for the famous crypto game Axie Infinity, last year.

Keep an eye out for more cryptocurrency news.

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