• MistTrack – a crypto tracking and compliance platform – has released updates on the investigation of the Harmony bridge hack that saw $100 million stolen last June.
• The investigation revealed that the notorious North Korean hacking organization, The Lazarus Group, is likely behind the theft.
• The funds were transferred to exchanges including Huobi, Binance, and OKX in an attempt to cover their on-chain tracks.
On Monday, the crypto tracking and compliance platform MistTrack released updates on the investigation of the Harmony bridge hack, which saw $100 million stolen last June. The investigation revealed that the notorious North Korean hacking organization, The Lazarus Group, is likely behind the theft.
The attack took place back in June, when Harmony’s bridge – a cross-chain protocol used to transfer tokens between different blockchains – was compromised. The breach resulted in the loss of $100 million worth of tokens.
In the wake of the attack, MistTrack launched an investigation to uncover the culprits behind the hack and trace the stolen funds. The team followed the funds through multiple exchanges and blockchains, attempting to uncover any information that could lead to the hackers.
The investigation revealed that the funds were transferred to various exchanges, including Huobi, Binance, and OKX, in an attempt to cover their on-chain tracks. However, the team was still able to trace the funds back to the Lazarus Group.
The Lazarus Group is a North Korean cybercrime syndicate that has been responsible for a number of high-profile hacks, including the WannaCry attack in 2017 and the Sony Pictures hack in 2014. They are well-known for their sophisticated tactics and their ability to evade detection.
The investigation also revealed that some of the funds were transferred to a DeFi protocol, further complicating the situation. The team was able to trace the funds back to the protocol, but was unable to determine the exact destination of the funds.
The team at MistTrack is now working with law enforcement and other security experts to investigate the hack further and hopefully recover some of the stolen funds. They have also released a detailed report on the findings of their investigation, which can be found on their website.
The Harmony bridge hack is yet another reminder of the importance of security measures when dealing with digital assets. Exchanges and other crypto services should always be vigilant and take necessary steps to protect their users from malicious actors.