The US Just Tied This Massive Crypto Theft To North Korean Hackers

The crypto address linked to the Axie Infinity hack has been sanctioned, which means any party involved in moving the funds will also face action by government officials. The hacker group exploited the validation system of the Ronin bridge that lets users deposit their crypto coins and converts them into in-game tokens. Members of the group stole private keys belonging to five out of nine validators on the Ronin bridge to approve the transaction for moving 173,000 Ethereum and 25.5 million USDC. Multiple crypto exchange outlets, independent cybersecurity experts, and law enforcement officials are monitoring the flow of funds from the sanctioned wallet, hoping to trace it back to the back actors behind it and recover the stolen assets.

As for the hackers behind it, they have a long history of targeting financial institutions and corporate entities to steal funds via ransomware attacks. The Lazarus gang has been accused of laundering money for the despotic regime under Kim Jong-un on multiple occasions in the past, reportedly using acquired funds to support the government’s weapons program and the development of nuclear warheads. The group has also been reportedly connected to famous incidents like the Sony Pictures hack and the WannaCry ransomware attack. In the year 2021, the U.S. Department of Justice charged three members of the gang for stealing funds worth over $1.3 billion from different companies and institutions across the world.