The infamous North Korean hacker group Lazarus moves 41000 ETH, approximately $63.5 million from the Harmony Bridge exploit via smart contract privacy platform Railgun before depositing the obfuscated funds on three different exchanges.
Crypto sleuth ZachXBT revealed the latest moves by the Lazarus group, stating that over 350 addresses are associated with the 41,000 ETH transfer. The obfuscated funds were deposited on Binance, Huobi, and OKX crypto exchanges.
ZachXBT said that transferred funds are usually withdrawn from exchanges immediately as it assists in obscuring the trail and helping them get away immediately.
Binance CEO CZ tweeted that the team detected the hacker fund movement. CZ added the Lazarus group previously tried to launder through Binance and it froze the hacker account.
“This time he used Huobi. We assisted Huobi team to freeze his accounts. Together, 124 BTC have been recovered. CeFi helping to keep DeFi #SAFU!” CZ noted.
Last June, Harmony Protocol suffered a hack attack as the hacker exploited a vulnerability on its Horizon Bridge, and ended up losing over $100M. Researchers at Elliptic Connect later revealed the $100 million might have been the work of the North Korean Lazarus group.
Kaspersky, a cybersecurity company, claimed last month that the Lazarus group was pretending to be venture capitalists to fund cryptocurrency firms. The company claims that the Lazarus Group targets different components of companies in the crypto sector with malware.
The Lazarus Group is under the radar of regulators for numerous large cryptocurrency thefts worth over $2 billion. It began concentrating on DeFi and cross-chain bridges in 2022 and is also suspected of being responsible for the $600 million Ronin Bridge attack.
Also Read: Japan’s National Police accuses Lazarus of Crypto Attacks
