A wallet address under the control of the protocol mining entity for Euler Finance recently transmitted 100 Ether ($170,515) to a wallet linked to the Lazarus Corporation's Ronin network attack.

#Euler Finance, a decentralized finance (DeFi) platform that offers on-chain financing, was hacked with potential losses of up to $197 million, as previously reported.

The Ronin network of Axie Infinity will be mined for $625 million by Lazarus Corporation in March 2022. This infamous hacker organization is also thought to have been engaged in other additional DeFi breaches in 2022.

Lazarus Corporation was added to the list of companies that the US Treasury Department has designated in April. The theft of $100 million in cryptocurrency from Horizon Bridge was blamed on the Lazarus Group and North Korea's APT38 hacking group, according to the Federal Bureau of Investigation (FBI) in January.

It is unclear if the #Lazarus Group is responsible for the attack or if they have any relation to the mining company Euler Finance.

Euler Labs CEO Michael Bentley wrote about the "toughest day" of his life after Euler was hacked in a series of tweets that were published today.

The site has "always been a privacy-conscious initiative," he tweeted in response to a user who sent a message claiming that Euler had received 10 audits from 6 different companies.

90% of the stolen money must be returned to Euler Financial within 24 hours, according to their request. Otherwise, the offender will be held accountable in court. Thus, the hacker gets to retain $19.6 million. Yet, the #hacker still needs to respond.

The organization also solicited community support by offering a $1 million reward to anyone who can locate the hacker's hint.

Since the attack, the token's value has decreased by more than 70%, from $6.1 to $1.9 right now.

1. After a period of quiet, the notorious Lazarus Group is back in action, moving $1.2 million in Bitcoin.
2. The Lazarus Group employed a mixer to transfer the Bitcoin, directing a portion to an inactive address and splitting the rest.
3. Known for the $600 million Axie Infinity attack, this state-backed group is believed to have stolen a staggering $700 million in 2023.
4. The year 2024 has witnessed several notable hacks, such as $4.5 million from Radiant Capital and $82 million from Orbit Chain.
5. The Lazarus Group's recent activities intensify concerns about crypto security, leaving the community uncertain about the next potential target.
In a surprising turn of events, The Lazarus Group, a notorious hacking group believed to be backed by North Korea, has re-emerged after a period of silence. On January 8, 2023, the state-funded hackers orchestrated a significant transfer of more than $1 million in Bitcoin, using what appeared to be a cryptocurrency mixer. The move, detected by Arkham Intelligence, involved the shifting of 27.371 BTC, approximately $1.2 million at the time.
Interestingly, Arkham Intelligence also noted a subsequent transfer of 3.343 BTC (almost $150,000) to an old, inactive address. The remaining funds were then fragmented and distributed across multiple addresses. Post these transactions, the Lazarus Group's Bitcoin holdings were evaluated at $79 million, leaving the crypto community speculating on the group's motives and whether it's a prelude to future cyberattacks.
The Lazarus Group's history is marked by cyberattacks believed to be sponsored by the North Korean government. Responsible for a third of all cyberattacks in 2023, according to a Chainalysis study, the group has employed various tactics such as phishing, brute force attacks, and the creation of malicious websites to pilfer approximately $700 million. Notably, the gang executed a significant heist in March 2022, exploiting a vulnerability in the Axie Infinity bridge contract, absconding with over $600 million in Ether and USD Coin.
As 2024 unfolds, the cryptocurrency space has already witnessed significant security breaches. Radiant Capital fell victim to a $4.5 million flash loan attack, while the Orbit chain experienced multiple attacks totaling $82 million in stolen assets, including Tether, USD Coin, Ether, Wrapped Bitcoin, and DAI. With almost $100 million pilfered in the first week of the year, the cryptocurrency community is on edge, wondering if The Lazarus Group's recent actions signal an impending assault on another protocol.
While the crypto community anxiously speculates on the group's intentions, it is crucial to note that uncertainties abound. The Lazarus Group's recent maneuvers may or may not foreshadow a more extensive campaign. Nevertheless, caution prevails, with the community holding its breath to discern which crypto protocol may be the next target.
Disclaimer: Voice of Crypto strives to provide accurate and current information, but it disclaims responsibility for any omissions or inaccuracies. Given the volatility of cryptocurrencies, individuals are encouraged to conduct thorough research and make informed financial decisions.
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🚨 Urgent Update 🚨

📢 North Korea's #Lazarus Group Strikes Again with $100 Million Crypto Hack! 📢

🔥 Shocking news in the crypto world! The notorious Lazarus Group from North Korea has resurfaced, carrying out a massive hack on Atomic Wallet. To further complicate matters, they are suspected of using the Russian crypto exchange Garantex to launder the stolen funds, as reported by Elliptic. 😱

💰 According to Elliptic's estimations, the losses resulting from the Atomic Wallet breach have now surpassed a staggering $100 million. This audacious cyber attack has sent shockwaves through the industry and heightened concerns about the security of digital assets. 🚫💻

🌐 The Lazarus Group, known for its sophisticated hacking capabilities, has a history of targeting cryptocurrency exchanges and financial institutions to fund illicit activities. Their involvement in this latest incident highlights the need for increased security measures and vigilance within the crypto community. 🔒

#BitcoinButton #SEC

#binanceus

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After numerous attempts to solicit community backing and recompense #Euler hackers, 3000 #ETH have now been restored.

In the past, the scheme also required hackers to return 90% and keep 10% as a prize, which would have been the equivalent of around $20 million. #Hackers did not respond, therefore the project was forced to turn to the public for assistance and offer a $1 million reward to anyone who could discover the hacker's hint.

Based on information made public by the security company #BlockSec today, the Euler attackers have begun returning funds, with 3,000 ETH (or roughly $5 million) restored so far. The BlockSec tweeted:

“We observed that the #Euler attacker 0xb66cd966670d962C227B3EABA30a872DbFb995db is returning money to Euler finance now. 3000 Ether was returning so far."

But yesterday, hacker Euler began acting oddly after sending 100 ETH to the infamous hacking collective #Lazarus Group. After last year's Ronin hack, he expressed concern that this might be the reason for the hundreds of millions of dollars' worth of hack.

As was previously mentioned, on March 13, independent security researcher CIA Officer claimed on Twitter that the DeFi Euler Finance loan agreement was compromised for a total of about $197 million, consisting of 8,877,507.35 DAI, 849.14 WBTC, 34,413,863.42 USDC, and 85,818.26 stETH, while being monitored by the BlockSec security team.

Euler Finance, a lending platform built on Ethereum, finished fundraising $32 million in June of last year. Variant, FTX Ventures, and Jump Crypto all took part in the investment, which was organized by Haun Ventures.

Later this year, a DAO will be introduced, enabling users to exercise administrative rights over Euler Finance's growth and operations and choose how their community funds will be used, based on Euler.