FBI accused North Korean hackers of hacking the Harmony network for $ 100 million

 

FBI accused North Korean hackers of hacking the Harmony network for $ 100 million

FBI accused North Korean hackers of hacking the Harmony network for $ 100 million

The agency accused hacker groups Lazarus Group and APT38 of stealing crypto assets from the Horizon blockchain bridge in June last year

The FBI accused North Korean hackers of hacking the Harmony ecosystem, as a result of which in June last year crypto assets worth $ 100 million were stolen. American law enforcement officers claim that the stolen cryptocurrency is used by the authorities of North Korea to finance programs to create ballistic missiles and weapons of mass destruction.

Harmony is a first-tier blockchain launched in 2019 and supports Ethereum applications. With the Horizon blockchain bridge operating in this ecosystem, users can move assets between the Harmony network and the Bitcoin, Ethereum and Binance Chain networks. In late June 2022, the Horizon Bridge was breached. The attacker in 18 minutes withdrew cryptocurrency in the amount of $ 100 million and sent these assets for exchange on Ethereum to a decentralized exchange.

The FBI revealed that on Jan. 13, hackers used a privacy protocol called Railgun to launder more than $60 million in Ethereum from funds stolen from the Horizon Bridge. Some of these assets in ETH were subsequently sent to several crypto exchanges and converted into bitcoin, the statement said.

Then, part of these funds in bitcoin was frozen on some platforms cooperating with the bureau. The remaining bitcoins were subsequently transferred to 11 addresses, a list of which the FBI published in the message.

The hacking of the Horizon bridge led to the loss of 14 different types of digital assets. First, the developers proposed to conduct a hard fork of the network and issue billions of native tokens of the ONE project to compensate customers for losses. However, the community did not support this initiative, it was decided to use funds from the project treasury to cover the losses.

Comments

Post a Comment

Popular posts from this blog

"Investors need a minimum." When Bitcoin Will Begin Recovery

Image
  Experts have named two important factors that will allow the first cryptocurrency to complete the correction phase and return to growth. Over the past three months, the value of bitcoin has been gradually decreasing. The asset moved to a downward movement after it updated the historical maximum above $ 69 thousand in early November 2021, since then it has fallen in price by 38%. On January 10, the price of the cryptocurrency for the first time since September fell below $ 40 million. on January 17, the asset is traded at $ 42.7 thousand Experts explained that it puts pressure on the bitcoin rate and when the cryptocurrency will be able to return to growth. Investor Fear The financial world has recently been living in anticipation of a tightening of the Fed's monetary policy, which will lead to a massive flow of investors' funds from emerging markets to the dollar, explained Artem Deev, head of the analytical department of AMarkets. According to him, against this background, t
Read more

Eco-friendly investments. How to help the planet by earning on crypto assets

Image
What is the concept of regenerative finance (ReFi) and what projects help to invest in helping the environment How the concept of regenerative finance (ReFi) works and what decentralized economic models can contribute to solving environmental problems The ReFi concept is a direction of decentralized finance (DeFi), within the framework of which complex and harmonious economic models are created, participation in which, in addition to direct material remuneration, favorably affects the environment or contributes to the solution of social problems. Restorative or "regenerative" finance, like most Web 3.0 industry terms, has a multi-part and vague definition. Proponents of the concept are trying to solve an important, to some extent utopian problem. The ReFi model is still poorly used in real project developments, and existing solutions are still used only by a small number of truly interested participants. Nevertheless, the scale of the concept over time can make the idea of Re
Read more

When Bitcoin Will Be More Expensive Than $100 Thousand: A Selection of Predictions

Image
Experts analyzed the market situation and gave forecasts for the growth of bitcoin after updating the historical maximum set in 2021Since the end of January 2024, bitcoin (BTC) has risen in price by one and a half times and reached a record $59 thousand per coin since 2021. The all-time high of the bitcoin rate was reached on November 10, 2021 at $68.7 thousand. According to Coingecko, on February 28, bitcoin's capitalization exceeded $1.1 trillion, which is more than half of the market share of the entire crypto market, the total capitalization of which is estimated by analytical services at $2.2 trillion. Ethereum (ETH), the second largest cryptocurrency by capitalization, has also updated its annual maximum, with Ether trading above $3,300 with a capitalization of more than $398 billion. Bloomberg called the activity of retail investors before the upcoming halving and the launch of bitcoin-based exchange-traded funds on January 11, 2024, the main reasons for the rise of bitcoin
Read more