North Korea’s Lazarus Group Behind $100 Million Horizon Hack, Harmony Initiates Global Manhunt
As per the newest 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 beneath 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 – possible via a social engineering assault on Concord group members. Such strategies have regularly 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 yr.
The hackers have already transformed all stoled belongings into ETH and have already began mixing the funds in crypto mixer Twister Money in an effort 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 Twister Money and the remainder are in course of.
Concord Protocol Kickstarts International Manhunt
On Tuesday, June 29, Concord appointed blockchain evaluation agency Chainalysis to hint the culprits behind the hack. Earlier, Concord Protocol additionally provided $1 million in bounty rewards for the hacker to return $100 million and guaranteed no felony proceedings.
Nevertheless, within the newest update, Concord hass up to date the bid of reward to $10 million. For its closing phrases of negoatiation, Concord stated: “We’re offering one FINAL alternative for the actor(s) to return stolen belongings with anonymity. Our FINAL time period is beneath. Retain $10M and return the remaining stolen quantity. In alternate, Concord will stop its investigation”. Concord has offered a deadline of July 4 for the hackers to return the fund.
Apart from, Concord additionally introduced that it has kickstarted world mahunt. It notes:
Concord has begun a world manhunt for the felony(s) who stole $100M from the Horizon bridge. All exchanges have been notified. Legislation enforcement, @Chainalysis, and @AnChainAI have lively investigations to determine the accountable actors and get better the stolen belongings.
