Home Finance FBI accuses North Korean govt-backed hackers for $100 mn crypto heist

FBI accuses North Korean govt-backed hackers for $100 mn crypto heist

Washington, Jan 25 The Federal Bureau of Investigation (FBI) has accused a North Korean government-backed hacker group for a $100 million crypto heist final 12 months.

The cryptocurrencies had been stolen from Concord’s Horizon bridge, which permits customers to switch cryptocurrency from one Blockchain to a different.

The FBI mentioned in a press release that the North Korea-based Lazarus Group (also called APT28) cyber actors “are chargeable for the theft of $100 million of digital foreign money from Concord’s Horizon bridge reported on June 24, 2022”.

“On Friday, January 13, 2023, North Korean cyber actors used RAILGUN, a privateness protocol, to launder over $60 million price of ethereum (ETH) stolen throughout the June 2022 heist,” mentioned the FBI.

A portion of this stolen ethereum was subsequently despatched to a number of digital asset service suppliers and transformed to bitcoin (BTC).

A portion of those funds had been frozen, in coordination with a number of the digital asset service suppliers.

The FBI additionally revealed 11 cryptocurrency wallets the place the remaining $40 million in stolen bitcoin had been moved to.

The company mentioned that it continues to establish and disrupt North Korea’s theft and laundering of digital foreign money, which is used to help North Korea’s ballistic missile and Weapons of Mass Destruction programmes.

“The FBI will proceed to show and fight the DPRK’s use of illicit actions — together with cybercrime and digital foreign money theft — to generate income for the regime,” it mentioned.

DPRK is the acronym for North Korea’s official identify, the Democratic Individuals’s Republic of Korea.

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