The Ronin network was robbed of $625 million in cryptocurrencies. The attack is being blamed on the North Korean hacker organization Lazarus, according to the US Department of Treasury and the FBI. Ronin claims that its bridge will be operational again “before the end of the month.” The bridge allows users to transfer cash between blockchains.
Axie Infinity Heist $625 Million was carried out by North Korean hackers
According to Vice, the US Treasury Department blames North Korean hackers Lazarus for stealing $625 million in cryptocurrencies from the Ronin network, which powers the Axie Infinity play-to-earn crypto game. Treasury Department amended sanctions on Thursday to include the wallet address that received the payments and attribute them to the Lazarus group.
US Treasury and FBI have blamed the attack on Lazarus. “We are still installing additional security measures before redeploying the Ronin Bridge to avoid future risk,” the post states.
“By the end of the month, we intend to deliver a thorough post-mortem that will include security measures put in place and next actions.” Ronin claims it will reopen its bridge “before the end of the month.” The bridge, which allows users to transfer funds between blockchains and Axie Infinity, has been shut down since the incident.
On March 29th, hackers stole $625 million worth of Ether. According to Chain analysis, Lazarus is associated with North Korea’s intelligence agency and was responsible for seven strikes last year.
According to Vice, the flagged wallet account presently has over USD 445 million (148,000 Ethereum) and just transferred about $10 million (3,302.6 ETH) to another address. The address is labeled as “alleged to be involved in a hack targeting the Ronin bridge” by cryptocurrency transaction tracker Etherscan.
On March 29th, hackers stole $625 million in Ethereum in one of the largest crypto heists to date. The Lazarus organization, according to bitcoin investigating group Chain analysis, is linked to North Korea’s intelligence agency and was responsible for seven attacks last year.
The group rose to prominence by hacking Sony Pictures in 2014 and publishing The Interview, a comedy produced by Seth Rogen based in North Korea. It later stole using the Trojan virus.
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