$100 Million Stolen By North Korea’s Lazarus Group: Crypto Tracking Platform Traces Funds
• MistTrack identified 350 wallet addresses with funds stolen from the Harmony bridge by North Korea’s Lazarus Group.
• The hackers ran 85,700 Ether (ETH) through the Tornado Cash mixer and deposited them at various addresses.
• Harmony offered a $1 million reward for the return of the funds, but it was not accepted and the funds remain at the identified addresses.
In June of 2022, the Harmony bridge, a system for transferring between Harmony and the Ethereum network, Binance Chain and Bitcoin, fell victim to a devastating attack by the North Korean Lazarus Group. The attack resulted in a loss of approximately $100 million worth of funds in a number of tokens.
In an effort to elude trackers, the hackers moved the funds through various exchanges and made use of mixers. However, MistTrack, a crypto tracking platform, was able to pick up the trail and trace the funds back to 350 wallet addresses. Through the use of blockchain analytics, the crypto detectives were able to identify the addresses where the funds remain today.
In an attempt to recover the funds, Harmony offered a $1 million reward for the return of the funds. Unfortunately, the offer was not accepted, and the funds remain at the identified addresses. The company has since taken measures to ensure that such an attack never happens again.
The attack serves as an important reminder of the need for security measures to protect digital assets and the importance of crypto tracking platforms in tracing stolen funds. While the funds may not be recovered, the case serves as a cautionary tale for cryptocurrency users, who must take the necessary steps to secure their assets.