• North Korea’s Lazarus Group is likely behind a $100 million hack on the Harmony Network.
• Over the weekend, the group moved $63.5 million (~41,000 ETH) from the hack.
• Crypto exchange Huobi blocked funds tied to the hack on Monday morning.
North Korea’s Lazarus Group is the likely perpetrator behind a $100 million hack on the Harmony Network, and over the weekend, the group moved $63.5 million (~41,000 ETH) from the hack. On Monday morning, crypto exchange Huobi blocked funds tied to the attack.
The news was reported by pseudonymous blockchain sleuth ZachXBT, who said on Twitter that the Lazarus Group had “a very busy weekend, moving $63.5 million (~41,000 ETH) from the Harmony bridge hack through Railgun before consolidating funds and depositing on three different exchanges.” The funds were moved before Huobi was able to block them.
The hack on the Harmony Network, which occurred in April 2020, was one of the largest in the history of blockchain. The hacker was able to exploit a vulnerability in the Harmony bridge, which allowed them to steal nearly 43,000 ETH from users. At the time, the value of the stolen funds was estimated to be around $100 million.
An analysis by blockchain research firm Elliptic revealed that the Lazarus Group was likely behind the attack. The group is believed to be responsible for a number of other high-profile hacks, including the WannaCry ransomware attack in 2017.
In response to the attack, Huobi blocked the funds on Monday morning and contacted the blockchain research firm to investigate the incident further. The exchange said that it is “committed to the safety of our customers’ funds,” and that they are “working to ensure that all stolen funds are recovered and returned to their rightful owners.”
The incident highlights the need for users to be vigilant when it comes to their crypto security, as malicious actors are constantly finding new ways to steal digital assets. In order to protect themselves, users should always make sure to store their funds in a secure wallet, and to use two-factor authentication wherever possible.