FBI confirms North Korean cybercrime groups stole crypto from Horizon Bridge

The United States Federal Bureau of Investigation (FBI) announced that North Korean cybercrime groups were behind the hack of Horizon Bridge. The attack had drained $100 million worth of crypto from Horizon Bridge, a tool for cross-chain interoperability between Harmony, Binance Smart Chain, and Ethereum. The groups were identified as Lazarus Group and  APT38.

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The attack was carried out by two groups associated with the Democratic People’s Republic of Korea (DPRK). They were identified as the Lazarus group and APT38. The press release read,

“the FBI’s Cyber Division, the United States Attorney’s Office for the Central District of California, the United States Attorney’s Office for the District of Columbia, the National Cryptocurrency Enforcement Team, and the FBI’s Virtual Assets Unit—continue to identify and disrupt North Korea’s theft and laundering of virtual currency (…)”

Hackers moving the stolen crypto
Moreover, the law enforcement agency stated that the stolen money is used to fund “North Korea’s ballistic missile and Weapons of Mass Destruction programs.” The FBI also stated that the criminal organization laundered more than $60 million worth of Ethereum (ETH) on January 13, 2023. The group carried out the deed on RAILGUN – a privacy protocol.

In addition, the FBI claimed that the hackers converted the laundered Ethereum (ETH) into Bitcoin (BTC) on various crypto platforms. Some of these funds were stolen with the cooperation of the crypto service providers. Meanwhile, the FBI identified 11 Bitcoin addresses, which received the laundered money.
The story is still developing.

This article has been originally published at: https://ambcrypto.com/fbi-confirms-north-korean-cybercrime-groups-stole-crypto-from-horizon-bridge/