The United States Ministry of Finance has accused the North Korean hacking group Lazarus of being the perpetrators of crypto theft on the Ronin Network, amounting to $614 Million.
This was conveyed on Thursday (14/4/2022) on the official website of the US Ministry of Finance.
The so-called group is "Lazarus Group" complete with a number of aliases.
The hacker group, which is said to be from the Cutgang District in Pyongyang, North Korea, controls the wallet, based on this Ethereum blockchain address.
The address is indeed the address where the crypto Ether (ETH) and USDC stolen from the Ronin Network were placed.
Cybersecurity firm Chainalysis confirmed that the crypto wallet did indeed house the stolen crypto. Meanwhile, Elliptic recently confirmed that around 14 percent of the stolen crypto had been laundered through the Tornado Cash service.
The Ronin Network hack through access to Ronin Bridge occurred on March 23, 2022, but was only discovered and announced on March 29, 2022 by Sky Mavis Company, the company behind the developers of Ronin Network and the game Axie Infinity.
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In the Sky Mavis official announcement at that time, there were illegal access to several Ronin network nodes. The hacker managed to get the crypto wallet private key to access the funds.
Last week Sky Mavis confirmed that all user losses would be reimbursed, with Binance having agreed to be one of the injectors.
The Lazarus hacker has long been known as a master hacker and is the main target of US authorities.
Even Lazarus was accused of being the mastermind behind the crypto exchange hack in 2020. At that time, two Chinese citizens living in the US were also arrested, because they were accused of being Lazarus' accomplices.
They were Tian Yinyin and Li Jiadong. The United States Treasury has accused them of being involved in helping the North Korean government raise money to finance the country's nuclear program led by Kim Jong Un. They are both said to have laundered the equivalent of $243.6 Million.
The US side believes that Lazarus is controlled directly by the North Korean government. Stolen crypto is touted as capital to increase the country's nuclear weapons power.
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