Last week, Harmony’s Horizon Bridge was attacked by hackers which resulted in the loss of more than $100 million. According to a new report by blockchain analytics firm Elliptic, Lazarus Group, a state-sponsored North Korean hacking organization, could be the culprit of this hack.
Elliptic stated that Lazarus Group has transferred the stolen assets including Ether (ETH), Tether (USDT), and Bitcoin (BTC) to 85,837 ETH. On June 27, they began moving part of that amount to Tornado Cash, an Ethereum-based mixing service that is often used by criminals to launder funds. Up till now, about 35,000 ETH, or 41% of the stolen funds, have been transferred to Tornado Cash.
Lazarus Group was also accused of being behind the $635 million Ronin Bridge hack in March this year. This was considered one of the largest hacks in DeFi history, causing huge losses to Axie Infinity and forcing the project’s developer to raise funds to compensate users. Elliptic also noted that the way hackers handled the assets stolen from Harmony Bridge had many similarities with the Ronin Bridge hack. At the same time, both attacks occurred at night in the Asian time zone.
North Korea is known to be the world leader in crypto-related crimes. In 2021 alone, the funds that hackers in this country have stolen, mainly in ETH, have reached 400 million USD. This figure has increased much in 2022 even though we have only passed half a year.
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