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North Korean Hackers to Be Held Accountable for $100M Harmony Hack
The Lazarus Group strikes again Continue reading North Korean Hackers to Be Held Accountable for $100M Harmony Hack at DailyCoin.com.
North Korea’s Lazarus Group Linked to $100M Harmony Bridge Hack
Cross-Chain Bridges Prime Targets for ExploitsThe Defiant•
State-Sponsored North Korean Hackers Likely Behind $100M Crypto Heist: Report
The Lazarus Group, a hacking organization allegedly supported by the North Korean government, likely carried out the $100 million cyberattack on cryptocurrency project Harmony’s (CRYPTO: ONE) Horizon Bridge. What Happened: Analysis from blockchain analytics firm Elliptic finds that the hack and subsequent laundering of funds is consistent with the activities of the Lazarus Group. See Also: How Bitcoin Crash Could Hurt Kim Jong-Un's Weapons Tests On June 24, hackers stole $100 million worth of cryptocurrencies, including Ethereum (CRYPTO: ETH), Wrapped Bitcoin (CRYPTO: WBTC), and Binance Coin (CRYPTO: BNB) from the Horizon Bridge. Elliptic was able to trace the funds being laundered through coin mixing tool Tornado Cash (CRYPTO: TORN) to several Ethereum wallets. “By sending these funds through Tornado, the thief is attempting to break the transaction trail back to the original theft. This makes it easier to cash out the funds at an exchange,” stated Elliptic in the report. At the time of writing, a little over 35,000 ETH worth around $39 million has been sent to Tornado Cash. The Lazarus Group has been linked to a number of large-scale crypto thefts, including the $540 million Ronin Bridge attack. Elliptic estimates that the total amount of stolen funds amassed by the group exceeds $2 billion. See Also: $1.59B In Stolen Funds In North Korea, Leading The World For Crypto-Related Cybercrime Photo via trambler58 on Shutterstock © 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.Benzinga•
North Korean Attackers Behind $100M Harmony Hack: Report
Analysis suggests the hack is the work of the Lazarus Group, the Pyongyang-backed group behind a similar $622 million hack of Axie Infinity.
Three Months After the Hack, Axie Infinity’s Ronin Bridge Relaunches with Better Security
Sky Mavis has announced that the Ronin Bridge is now online and is ready for deposits and withdrawals. Continue reading Three Months After the Hack, Axie Infinity’s Ronin Bridge Relaunches with Better Security at DailyCoin.com.
Axie Infinity's Ronin Bridge Restarts Following $625 Million Exploit, Providing Compensation To Victims Of The Hack
Axie Infinity (CRYPTO: AXS) has announced its Ronin Bridge will be restarting three months after an exploit of $625 million. What Happened: On Tuesday, June 28, Axie Infinity’s Ronin Bridge was restarted following external audits and internal audits. These audits were carried out by blockchain security companies Certik and Verichains. The tweet making the announcement stated all user funds will be backed with a 1:1 ratio by the newer bridge. As revealed by CoinDesk, the upgraded bridge promises a circuit-breaker system to improve the bridge’s security by pausing large-scale withdrawals that may indicate exploits. The attack occurred earlier this year in March when the network’s private keys were hacked and used to make fake withdrawals. Losses include 173,600 Ethereum (CRYPTO: ETH) and 25.5 million USDC (CRYPTO: USDC). Sky Mavis, Axie Infinity’s head designer, stated the company would compensate the victims of this exploit. This mission for compensation began with $150 million being raised in April, in a fundraising round led by Binance (CRYPTO: BNB). Why It’s Important: The exploit undertaken on Axie’s Ronin Bridge follows an array of other multi-million dollar exploits that have occurred previously this year. The company's mission to repay victims of this exploit protects retail investors who had major parts of their portfolio invested in Axie Infinity’s Ronin Bridge. Immediately following the exploit, Ronin protected the Axie Infinity ecosystem by lessening its token’s emissions. However, following the exploit and amidst bearish market conditions, Axie Infinity is currently trading at $15.45, down more than 93% from its prior all-time highs. Bridges, such as the Ronin Bridge, play a crucial role across blockchains. The Ronin Bridge facilitates assets moving between the Ronin and Ethereum blockchains. Therefore, as exploited funds are being compensated to investors and the Ronin Bridge is restarting, Axie Infinity must continue to proceed cautiously to protect investors and their funds. © 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.Benzinga•
Axie Infinity’s Ethereum Bridge Back Online After $622M Hack
The Ronin bridge is back online more than three months after attackers completed one of the largest DeFi heists to date.
Tezos Brings TezAsia Hackathon To Drive Innovation in the Web3 Arena
Tezos India and TZ APAC co-organized a month-long hackathon starting July 10. TezAsia hackathon aims to accelerate innovation-based culture in ...Read More...
Axie Infinity’s Ronin Ethereum bridge officially reopens following hack
After a $600 million exploit in March, the added changes include 1:1 backing and a system to halt suspiciously large withdrawals. The post Axie Infinity’s Ronin Ethereum bridge officially reopens following hack appeared first on The Block.
RT DappRadar: 🔹 @SkyMavisHQ has reopened the Ronin Bridge, allowing users of the sidechain to move their assets from @Ronin_Network to #Ethereum and vice-versa. 💸 The #RoninBridge closed in March after a hacker exploited it for $600 million ➡️https://dappradar.com/blog/axie-infinity-activity-plummets-after-600-million-ronin-exploit
RT DappRadar: 🔹 @SkyMavisHQ has reopened the Ronin Bridge, allowing users of the sidechain to move their assets from @Ronin_Network to #Ethereum and vice-versa. 💸 The #RoninBridge closed in March after a hacker exploited it for $600 million ➡️https://dappradar.com/blog/axie-infinity-activity-plummets-after-600-million-ronin-exploitAxieInfinity•
Axie Infinity’s Ronin Bridge Now Open After $625M Hack
Axie Infinity has finally reopened Ronin Bridge after closing it for many months. All users affected by the $625 million ...Read More...