North Korea’s Lazarus Group Behind $100 Million Horizon Hack, Harmony Initiates Global Manhunt

    As per the most recent report, the infamous Lazarus Group from North Korea is behind the $100-million hack of the Horizon bridge. As per the Bloomberg report, London-based Elliptic Enterprises was actively monitoring the stole funds and has come to this conclusion.

    Washington believes that the Lazarus Group has been working below the directions of North Korea’s clandestine intelligence company. The report from Elliptic notes:

    The theft was perpetrated by compromising the cryptographic keys of a multi-signature pockets – probably by way of a social engineering assault on Harmony group members. Such strategies have ceaselessly been utilized by the Lazarus Group.

    The report additional states that the Elliptic Group has been perpetrating a number of such thefts totaling over $2 billion. The Group can be believed to be behind the $540-million hack of Ronin Bridge earlier this 12 months.

    The hackers have already transformed all stoled belongings into ETH and have already began mixing the funds in crypto mixer Tornado Cash to be able to launder proceeds and masks the traceability of funds. As of June 27, greater than 35,000 ETH price almost $40 million have been despatched to Tornado Cash and the remaining are in course of.

    Harmony Protocol Kickstarts Global Manhunt

    On Tuesday, June 29, Harmony appointed blockchain evaluation agency Chainalysis to hint the culprits behind the hack. Earlier, Harmony Protocol additionally supplied $1 million in bounty rewards for the hacker to return $100 million and guaranteed no felony proceedings.

    However, within the newest update, Harmony hass up to date the bid of reward to $10 million. For its last phrases of negoatiation, Harmony stated: “We are providing one FINAL opportunity for the actor(s) to return stolen assets with anonymity. Our FINAL term is below. Retain $10M and return the remaining stolen amount. In exchange, Harmony will cease its investigation”. Harmony has offered a deadline of July 4 for the hackers to return the fund.

    Besides, Harmony additionally introduced that it has kickstarted international mahunt. It notes:

    Harmony has begun a world manhunt for the felony(s) who stole $100M from the Horizon bridge. All exchanges have been notified. Law enforcement, @Chainalysis, and @AnChainAI have lively investigations to establish the accountable actors and recuperate the stolen belongings.

    Bhushan is a FinTech fanatic and holds aptitude in understanding monetary markets. His curiosity in economics and finance draw his consideration in direction of the brand new rising Blockchain Technology and Cryptocurrency markets. He is repeatedly in a studying course of and retains himself motivated by sharing his acquired data. In free time he reads thriller fictions novels and generally discover his culinary expertise.

    The offered content material could embody the private opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any duty on your private monetary loss.

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