Representational Image. News 18
Washington: Federal Bureau of Investigation on Monday revealed that the $100 million theft from the US crypto company from June last year was carried out by two cyber groups linked to North Korea.
As per the reports, hacker groups Lazarus Group and APT38 perpetrated the theft at Harmony’s Horizon bridge in US.
The parties utilised a privacy protocol called Railgun on January 13 to launder more than $60 million worth of ethereum that had been stolen in the robbery in June, according to a statement from the FBI.
The FBI reported that some of the stolen ethereum was later transferred to multiple companies that deal in virtual assets and converted into bitcoin.
According to the FBI, North Korea uses the theft and laundering of virtual money to fund its development of ballistic missiles and WMDs.
The core software used by digital tokens like bitcoin and ether for transferring cryptocurrency between different blockchains, Horizon bridge, was robbed, California-based Harmony reported in June of last year.
According to three online research companies cited by Reuters in June, North Korean hackers were most likely responsible for the attack on Harmony.
Harmony creates non-fungible tokens and blockchains for decentralised finance, or peer-to-peer platforms that provide loans and other services without the use of conventional gatekeepers like banks.
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