June 7, 2023
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N. Korea-related hacker groups behind crypto firm heist — FBI

Two hacker groups related to North Korea, the Lazarus Group and APT38, had been accountable for the theft final June of $100 million from US crypto firm Concord’s Horizon bridge, the Federal Bureau of Investigation (FBI) mentioned on Monday.

On Jan. 13, the groups used a privateness protocol known as Railgun to launder over $60 million price of ethereum stolen through the theft in June, the FBI mentioned in an announcement

A portion of the stolen ethereum was subsequently despatched to a number of digital asset suppliers and transformed to bitcoin, the FBI mentioned.

The FBI mentioned North Korea’s theft and laundering of digital forex is used to help its ballistic missile and Weapons of Mass Destruction applications.

In June final yr, California-based Concord mentioned {that a} heist had hit its Horizon bridge, which was the underlying software program utilized by digital tokens equivalent to bitcoin and ether for transferring crypto between completely different blockchains.

Reuters in June reported that North Korean hackers had been most probably behind the assault on Concord, citing three digital investigative companies.

Concord develops blockchains for decentralized finance — peer-to-peer websites that supply loans and different companies with out conventional gatekeepers equivalent to banks — and non-fungible tokens.—  Reuters

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