North Korea’s Lazarus Group Accused of $625 Million Axie Infinity Crypto Theft
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The Lazarus Group, believed to be run by the North Korean government has been linked to the $625 million Axie Infinity hack
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The FBI disclosed in a statement that the North Korean government-backed cyber group holds $445 million worth of Ether from the theft
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Sky Mavis, the developers of Axie Infinity have managed to raise $150 million to compensate the victims of the hack
The Federal Bureau of Investigation on Thursday accused hackers associated with the North Korean government of stealing $625 million worth of cryptocurrency from the Ronin Network and Axie Infinity last month.
The crypto was stolen from a bridge that allows users to send cryptocurrencies across blockchains.
In a statement that was published by the FBI, it was revealed that the Lazarus Group and ATP38 carried out the hack on March 29th, stealing the huge sum of Ethereum cryptocurrency.
The broad group of hackers who are suspected to be working for North Korea has been sanctioned by the US Treasury Department. The FBI discovered that the same sanctioned wallet was used to withdraw funds from the hack, and it still holds $445 million worth of Ether.
The United Nations panel alleges that as North Korea’s leader, Kim Jong Un continues to invest heavily in nuclear weapons, cyberattacks have become an important source of funding for the regime.
According to digital currency tracking firm, Chainalysis, the Lazarus Group has stolen about $1.75 billion worth of cryptocurrency in recent years. Researchers from Google have also revealed that North Korea has also conducted two hacking campaigns targeting the United States, as the country focuses its resources on Russian hacking.
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