FBI Announces North Korea-Associated Hackers Responsible For $100 Million Virtual Robbery

Monday saw the Federal Bureau of Investigation (FBI). announced An alleged North Korea-associated hacking organization had robbed $100 million of cryptocurrency last year.

Harmony’s Horizon Bridge operates Harmony and other systems can make cryptocurrency transactions. On June 24, 2022, Harmony’s bridge was hacked and $100 million of virtual funds were taken.

The FBI claimed that hackers known as APT28 and called the Lazarus Group stole the cryptocurrency.

In a press statement, the FBI explained On Friday, January 13, North Korean hackers used RAILGUN (a privacy tool) to launder ethereum from last year. The amount that was laundered reached a total of more than $60 millions.

Some of the money was then delivered to multiple providers and changed into bitcoin, after which some of it was frozen through an effort with the providers. 

The FBI noted that some of its offices, working with other groups, are still finding and interrupting North Korea’s acts of stealing and money laundering of cryptocurrency. It said the criminal actions are utilized in order to prop up North Korea’s Weapons of Mass Destruction and ballistic missile projects.

The FBI also stated that it has published a Cybersecurity Advisory together with the Cybersecurtiy and Infrastructure Security Agency and the U.S. Treasury Department in the past. The advisory was discussed “TraderTraitor,” A malware attempt that North Korea used to attack Harmony. 

Reuters published June’s report reported According to three digital investigative organizations, hackers from North Korea are likely responsible for the major hack. Elliptic, a crypto analysis team speculated Lazarus was named in a report issued at the time the cyber attack occurred. 

“The thief is attempting to break the transaction trail back to the original theft,” According to the report. “This makes it easier to cash out the funds at an exchange.”

Last yearAnne Neuberger is the Deputy National Security Advisor Cyber and Emerging Technology at the National Security Council. said She was “concerned about North Korea’s cyber capabilities.”

“They use cyber to gain, we estimate, up to a third of [stolen crypto] [sic] funds to fund their missile program,” She made the observation.

A few months following The Harmony attack Nomad, another crypto group, reportedly had cryptocurrency — in the amount of $190 million — taken in multiple incidents. 

The Treasury Department took action Last year, new sanctions were placed on a wallet belonging to the Lazarus Group. According to crypto analysts, the wallet was linked to an attack in which cryptocurrency was stolen in excess of $600 million.