The FBI has confirmed that the notorious Lazarus Group, a menace actor believed to have sturdy ties to the North Korean authorities, was certainly one of two entities behind the current Concord bridge cyberattack (opens in new tab).
Concord, which permits customers to switch cryptocurrency tokens between in any other case separate blockchains, was attacked in in June 2022. The then-unknown hackers managed to steal round $100 million by exploiting flaws within the protocol’s code, making off with a complete of 85,867 Ether tokens, native to the Ethereum blockchain.
Now, the FBI says it has proof that Lazarus Group, along with APT38, was behind the assault.
Funding for missile applications
“FBI Los Angeles and FBI Charlotte—in coordination with the FBI’s Cyber Division, the US Legal professional’s Workplace for the Central District of California, the US Legal professional’s Workplace for the District of Columbia, the Nationwide Cryptocurrency Enforcement Staff, and the FBI’s Digital Property Unit—proceed to determine and disrupt North Korea’s theft and laundering of digital forex, which is used to help North Korea’s ballistic missile and Weapons of Mass Destruction applications,” the FBI’s announcement says.
The regulation enforcement company additionally stated the group was noticed utilizing RAILGUN on January 13, to launder the stolen funds. RAILGUN is a privateness protocol that the group used to launder greater than $60 million value of Ether. Part of these funds have been later despatched to “a number of digital asset service suppliers” and transformed to bitcoin. The FBI later reached out to a few of these service suppliers and managed to freeze a portion of those funds, it stated.
The remainder have been despatched to numerous bitcoin addresses.
Lazarus was additionally behind an assault on the Ronin bridge that came about earlier in 2022, the place the group stole $625 million in varied cryptocurrencies.