The North Korean hacker syndicate known as the Lazarus Group is suspected of perpetrating the recent predatory attack on the blockchain bridge Horizon. A total of $100 million was stolen in the robbery.
A report by blockchain analysis firm Elliptic shows clear parallels between the modus operandi of this attack and past attacks by the Lazarus group. Both the methodology of the hacks themselves and the way in which the stolen digital assets were subsequently laundered bear a serious resemblance to patterns typical of the Lazarus Group, reports “Finanzen.net”.
The report goes on to detail how the hackers went about their attack. First, the Lazarus Group secured the credentials of Harmony employees in Asia Pacific, which they use to breach the barriers of the protocol’s security system.
In the next step, the attackers used automated money laundering programs to move the stolen assets in the middle of the night. According to Elliptic, the hackers have already managed to transfer more than 40 percent of the $100 million to Tornado Mixer. The so-called “mixer service” based on Ethereum serves to obfuscate the transaction data and to put obstacles in the way of investigators trying to trace the transactions.
As Cointelegraph reports, Harmony’s team has already offered a $1 million reward in an attempt to lure the hackers into returning the stolen funds. In the meantime, the team has increased the reward to $10 million and has also assured that if the assets are returned in full, there will be no further investigation or criminal prosecution.
As CNBC reports, this robbery by the Lazarus group is by no means the first of its kind. In April of this year, 600 million US dollars were stolen in an attack on the Ronin Bridge. This action was also attributed to the Lazarus group supported by the North Korean government due to the typical pattern.