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 underneath 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 – seemingly by a social engineering assault on Concord workforce members. Such methods have often 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 property 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 remaining are in course of.

Concord Protocol Kickstarts World Manhunt

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

Nonetheless, within the newest update, Concord hass up to date the bid of reward to $10 million. For its ultimate phrases of negoatiation, Concord mentioned: “We’re offering one FINAL alternative for the actor(s) to return stolen property with anonymity. Our FINAL time period is under. Retain $10M and return the remaining stolen quantity. In change, Concord will stop its investigation”. Concord has supplied 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 worldwide manhunt for the prison(s) who stole $100M from the Horizon bridge. All exchanges have been notified. Legislation enforcement, @Chainalysis, and @AnChainAI have energetic investigations to establish the accountable actors and recuperate the stolen property.

Bhushan is a FinTech fanatic and holds a very good aptitude in understanding monetary markets. His curiosity in economics and finance draw his consideration in the direction of the brand new rising Blockchain Know-how and Cryptocurrency markets. He’s constantly 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 abilities.

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