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North Korea-linked hackers after $100 million crypto theft, FBI states

January 25, 2023: North Korean-linked actors have left the theft of $100 million through the hack of a crypto product the previous year, the Federal Bureau of Investigation said.

The FBI said it was “able to demonstrate” that Lazarus Group and APT38, dual hacking groups which link to Pyongyang, were responsible for the attack on the Horizon bridge in 2022.

Traders use a bridge to swap cryptocurrencies amid different blockchain networks.

The FBI also said that this month, the North Korean cyber actors exploited the Railgun system to launder more than $60 million of the token ether stolen in the heist of June 2022. Railgun is a system designed to support and preserve the anonymity of individuals moving cryptocurrency.

The FBI said that a portion of the stolen ether was sent to a few virtual asset service providers and converted to bitcoin.

At the hacking time, blockchain analytics company Elliptic said there were “strong signs” that Lazarus was after the attack. Almost immediately, the hackers were doing to move the funds nearly through means to obfuscate their identity.

The FBI stated that it continues “to identify and disrupt North Korea’s theft and launders of virtual currency, using to support North Korea’s unique missile and Weapons of Mass Destruction programs.”

North Korean-linked attackers pin to other crypto hacks.

The previous year, the U.S. Treasury Department accused Lazarus of a $600 million heist on Ronin Network, a known “sidechain” for the popular crypto game Axie Infinity.

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