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    North Korea’s Lazarus Group Behind $100 Million Horizon Hack, Harmony Initiates Global Manhunt


    As per the most recent report, the infamous Lazarus Group from North Korea is behind the $100-million hack of the Horizon bridge. As per the Bloomberg report, London-based Elliptic Enterprises was actively monitoring the stole funds and has come to this conclusion.

    Washington believes that the Lazarus Group has been working underneath the directions of North Korea’s clandestine intelligence company. The report from Elliptic notes:

    The theft was perpetrated by compromising the cryptographic keys of a multi-signature pockets – probably by means of a social engineering assault on Concord staff members. Such methods have regularly been utilized by the Lazarus Group.

    The report additional states that the Elliptic Group has been perpetrating a number of such thefts totaling over $2 billion. The Group can also be believed to be behind the $540-million hack of Ronin Bridge earlier this yr.

    The hackers have already transformed all stoled belongings into ETH and have already began mixing the funds in crypto mixer Twister Money in an effort to launder proceeds and masks the traceability of funds. As of June 27, greater than 35,000 ETH value almost $40 million have been despatched to Twister Money and the remainder are in course of.

    Concord Protocol Kickstarts International Manhunt

    On Tuesday, June 29, Concord appointed blockchain evaluation agency Chainalysis to hint the culprits behind the hack. Earlier, Concord Protocol additionally supplied $1 million in bounty rewards for the hacker to return $100 million and guaranteed no felony proceedings.

    Nonetheless, within the newest update, Concord hass up to date the bid of reward to $10 million. For its closing phrases of negoatiation, Concord stated: “We’re offering one FINAL alternative for the actor(s) to return stolen belongings with anonymity. Our FINAL time period is beneath. Retain $10M and return the remaining stolen quantity. In change, Concord will stop its investigation”. Concord has supplied a deadline of July 4 for the hackers to return the fund.

    Moreover, Concord additionally introduced that it has kickstarted international mahunt. It notes:

    Concord has begun a worldwide manhunt for the felony(s) who stole $100M from the Horizon bridge. All exchanges have been notified. Regulation enforcement, @Chainalysis, and @AnChainAI have energetic investigations to establish the accountable actors and recuperate the stolen belongings.

    Bhushan is a FinTech fanatic and holds a superb aptitude in understanding monetary markets. His curiosity in economics and finance draw his consideration in the direction of the brand new rising Blockchain Know-how and Cryptocurrency markets. He’s constantly in a studying course of and retains himself motivated by sharing his acquired data. In free time he reads thriller fictions novels and typically discover his culinary expertise.

    The introduced content material could embrace the private opinion of the creator and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The creator or the publication doesn’t maintain any duty to your private monetary loss.

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