Blockchain detective Chainalysis claims Lazarus Group, a cybercrime group believed to be run by the North Korean government, was linked to the $625 million Ronin Network hack. Details of the attack on this project, a side chain of the popular altcoin Axie Infinity, continue in our news…
Lazarus Group is behind the altcoin attack
An Ethereum sidechain developed for the popular play-to-win game Axie Infinity In late March, Ronin disclosed a major security breach that could be one of the most costly hacks to date. Earlier in April, Sky Mavis, the developer behind Axie Infinity, raised $150 million to compensate victims of the attack. Earlier in January, Chainalysis reported that North Korean hackers stole $400 million worth of cryptocurrencies last year, with leading altcoin Ethereum making up the majority of the stolen tokens.
The Lazarus Group, which is affiliated with North Korea’s primary intelligence bureau, is thought to be responsible for most hacking attacks. As Kriptokoin.com have previously reported, the Kim Jong Un regime uses stolen tokens to maintain its nuclear and ballistic missile programs. Besides altcoin companies, Lazarus Group also attacked movie studio Sony Pictures, Bangladesh central bank and pharmaceutical companies.
The biggest attack in DeFi history
According to the statement made by the ‘CertiKAlert’ account, which is used by leading cyber security company CertiK for instant notifications, the spoils of the Ronin Network (RON) hacker are divided into three groups. The total value of $20.7 million in the first stolen token cluster has already been sent to various central exchanges. Altcoin hackers then transferred the equivalent of about $90 million to Tornado Cash, the most popular mixer service used to hide the tokens’ history.
https://twitter.com/CertiKAlert/status/1514605069030735877
Biggest tokens obtained by a hacker Most of them are still in their account. The Ronin Network hack, the sidechain of popular altcoin Axie Infinity, is hailed as the largest hacker attack in the history of the DeFi segment. The net loss total dwarfed $625 million. To prevent this from happening again, Sky Mavis, the company behind Axie Infinity (AXS) and its side chain Ronin Network (RON), launched an unprecedented $1 million bug bounty campaign.
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