Elliptic suspects Lazarus Group for Harmony $100M Crypto hack

Harmony Lazarus Crypto

According to Elliptic report, North Korean Lazarus group is behind the Harmony $100M crypto exploit. The notorious hacking group has picked up its pace again in hacking and stealing funds after the biggest game played by them against Axie Infinity hack. Elliptic reports suggest strongly that the strategies employed for the Harmony hack are corresponding to strategies used for Ronin Bridge attack.

Harmony lost over $100 million crypto assets on June 24 from Horizon Bridge. While Horizon bridge is an interoperability cross-chain service where assets are transferred between Harmony blockchain and other blockchains. However, the funds were not moved for up to three days until June 27.

Recently, Lazarus Group has developed crypto laundering techniques where they hack such types of cross-chain service bridges. They actively track the amount of funds and crypto assets on a particular chain or sidechain. Currently, the hackers have moved 41% of the funds roughly equivalent to 39,000 ETH to Tornado Cash.

As the report says, different types of cryptocurrencies were stolen that includes ETH, Wrapped Bitcoin (WBTC), Tether (USDT), and BNB. The hacking group straight away used UNISWAP (DEX) to convert most of the crypto assets in ETH. A total of 85,837 ETH was converted to avoid subjugation of the assets by other party.

Also read: The mastermind behind Axie Infinity $625 million hack- North Korean Lazarus group

Source: Twitter

North Korean state-operated Lazarus Group is one of the world’s successful hacking groups. It has initiated some of the unforgettable hacking and has stolen funds of over $2 billion till now. In recent times, it has started to expolite the cross-chain bridges also. It was in limelight few months back for its mischieve hacking of Ronin Bridge due to which Axie Infinity lost around $600 million.

Also read: Sky Mavis to become a ‘Zero-Trust Organization’ after $600M Ronin Hack

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