Largest cryptocurrency hack to date

$625M hack into Ronin's network by North Korean hackers

What became of the funds and the hackers themselves?

Read below

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Who are Lazarus Group?

The Lazarus hackers are government officials of the Democratic People's Republic of Korea.

They are a cybercrime group that has carried out a series of attacks led by the North Korean government.



The group has been active since 2009, but first became famous in 2014 after compromising entertainment company Sony Pictures.

They became even more infamous two years later when they struck the Bangladesh Central Bank in 2016 and stole about $81M.5:33 PM · Jul 5, 2024·78 Views



Interestingly, Lazarus hackers are usually not motivated by money, which distinguishes them from similar criminal organizations.

These statesmen steal classified information, commit sabotage and other illegal acts to bring political or economic gain to the DPRK.



Shortly after the exploit, developers stopped all transactions on the network.

The hackers stole 173,600 ETH (approximately $600M) and $25.5m, totaling $625M.



According to the team's official statement, the attackers used compromised private keys that gave them access to the validator nodes.

The Ronin blockchain consists of nine validator nodes, and to complete a transaction, 5 of them must give their approval.


Attackers faked withdrawals using compromised private keys and carried out the largest hack in the crypto space.
How the FBI linked Lazarus hackers to the Ronin exploit

The FBI and the U.S. Treasury Department sanctioned three wallets linked to the DPRK groups Lazarus and APT38.

Chainalysis determined that one of these wallets was used in the Ronin attack.

Binance's CEO said the exchange has returned $5.8 million in stolen funds.

Unfortunately, the hackers were never found.

FBI and Treasury Department continue to fight cybercrime.

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