$MCADE presale is now live!

North Korean hacker group allegedly behind $625M Ronin attack

By:
on Apr 14, 2022
Listen to this article
  • US have identified North Korea hacker the Lazarus Group as the one behind the Ronin hack.
  • Authorities have identified an a Ethereum address used to receive the over $600 million worth of ETH.
  • The Ronin Network was hacked in March this year.

North Korea-based hacker the Lazarus Group is allegedly the attacker that stole $625 million from the Axie Infinity Ronin Bridge, according to new details from US officials.

The Office of Foreign Assets Control (FDAC), on Thursday, updated its Specially Designated Nationals and Blocked Person’s List (SDN). On it, the FDAC sanctioned the Lazarus Group, with the hackers linked to an “identifier” address connected to the attack.

Are you looking for fast-news, hot-tips and market analysis? Sign-up for the Invezz newsletter, today.

According to blockchain analytics firm Chainalysis, the Ethereum address received the funds stolen from the Ronin Bridge.

Updates to OFAC’s SDN designation for Lazarus Group confirm that the North Korean cybercriminal group was behind the March hack of Ronin Bridge, in which over $600 million worth of ETH and USDC was stolen.”

On March 23, Axie Infinity creator Sky Mavis announced that an exploit on the Ronin Network had led to the loss of 173,600 ETH and $25.5 million in USDC. The heist is one of crypto’s biggest.

Sky Mavis has pledged to reimburse Axie Infinity players and recently raised over $150 million from Binance and others towards that cause.

Invest in crypto, stocks, ETFs & more in minutes with our preferred broker, eToro.

10/10
68% of retail CFD accounts lose money