Report: Hacking of the latest “Harmony” crypto project linked to North Korean hackers
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Answer Report: Hacking of the latest “Harmony” crypto project linked to North Korean hackers
Elliptic, a blockchain data-investigation firm, has linked the recent hack of North Korea’s Harmony crypto project.
As previously mentioned in the Arab Bitcoin, the Horizon bridge of the Harmony project was drained and the amount of $100 million was stolen earlier this month.
Elliptic believes the hack was orchestrated through a social engineering attack, led by the Lazarus Group, a group of individuals with a notorious history of cybercrime controlled by the North Korean government.
The notorious hacking group tends to focus on the Asia Pacific region.
As for money laundering, it is done with the help of the “Tornado Cash” mixer.
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Blockchain investigators have successfully removed the transactions of hackers and hackers.
North Korea was also responsible for the theft of the Ronen Blockchain Bridge, which cost $625 million in losses.
The “Lazarus” group transferred and laundered the stolen cryptocurrency with the help of the aforementioned “Tornado Cash” mixer in the same way.
Earlier this month, Harmony Protocol announced a $1 million reward for any information that leads to hackers.
The company also claimed that it will not file criminal charges against the bad actors if the money is returned.
North Korea may be one of the biggest losers in the recent market crash as it relies heavily on stolen cryptocurrencies to fund its expensive weapons program.
The United States is demanding tougher sanctions against the rogue country after its recent missile tests.
According to a report published by Coinclub.com, North Korea has a group of nearly 7,000 hackers responsible for stealing crypto companies.
According to the aforementioned source, North Korea stole $400 million worth of cryptocurrency in 2022 and is on track to break that record and set a new record in 2022.
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