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Lazarus Group and APT38 Hackers Confirmed to be Behind $620 Million Ethereum Crypto Heist

The FBI officially claims that North Korean hackers are behind the recent $ 620 million giant crypto robbery. This happened after the popular NFT game Axie Infinity had billions of Ethereum stolen in March of this year.

FBI confirms North Korea-linked hackers behind $ 620 million crypto hack

According to the story by News.Com.AuThe FBI has confirmed that both the APT38 and Lazarus Group are behind a massive US $ 620 million Ethereum robbery on March 29, this year. Both Lazarus Group and APT38 were said to be officially associated with North Korea.

The cryptocurrency wallet linked to the Lazarus Group was subsequently approved by the US Treasury, claiming that hackers received orders directly from North Korea. Ari Redbord, TRM’s Head of Legal Affairs, said the robbery was considered a bank robbery.

Cryptographic robbery is likened to a bank robbery when funds go to destabilization activities and the spread of weapons

according to CNNRedbord said the hacking of the crypto business was “essentially a bank robbery” and that the stolen money funded North Korea’s volatile activities and the spread of weapons.

Redford said that as long as hackers are successful and profitable, they will not stop at cyber attacks. Hackers used the stolen private key to help verify transactions by targeting specific computers directly connected to Axie Infinity’s network.

Lazarus Group is estimated to be behind the $ 2.4 billion worth of stolen crypto

Article by Chain analysis Lazarus Group has shown a pipeline of ways in which it was able to steal an estimated $ 2.4 billion worth of cryptography. From 2020 to 2021, the number of North Korean-related hacks increased from just four to seven, according to a January report.

According to reports, the value of stolen cryptography increased by 40% during that period. When the money owned North Korea, it was distributed in the process of concealing the money and eventually potentially monetizing it.

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A carefully structured cash-out process points to carefully planned hacks.

The report states that the hacker was neither desperate nor in a hurry, so he carefully planned the attack because the cashout process was structured with great care.Report from BBC Contains a statement by Jack Kenny. Jack Kenny said people don’t understand the magnitude of the attack and that $ 600 million accounts for the majority of the network’s assets.

Francis Ford Coppola, an economist and author, said recent hacks have revealed how vulnerable online games are when it comes to cryptocurrency security. She said the case was typical of crypto companies, and many hacks and exploits show that people have no concerns about the security of their funds.

Related article: Fifty years after trying to stop a third blackout in Ukraine, sandworm hackers resurface

This article is owned by TechTimes

Written by Urian B.

Ⓒ All rights reserved. Do not duplicate without permission.


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