North Korea Accused by FBI of $100 Million Crypto Heist with Government Backing

North Korea Accused by FBI of $100 Million Crypto Heist with Government Backing

The FBI has accused a group of hackers believed to have connections to the North Korean government of committing a $100 million cryptocurrency heist last year. The funds were taken from Harmony’s Horizon bridge, a platform that enables users to transfer digital currency between different blockchain networks.

The North Korean Lazarus Group (APT28)

According to the FBI, the North Korean Lazarus Group (APT28) is responsible for the theft of $100 million in virtual currency from Harmony’s Horizon bridge that was reported on June 24, 2022.

In addition, the FBI stated that on January 13, 2023, these cyber actors utilized a privacy protocol known as RAILGUN to clean up over $60 million in Ethereum (ETH) that was stolen during the June 2022 heist.

The FBI also disclosed 11 cryptocurrency wallets where the remaining $40 million in stolen Bitcoin was transferred to. The agency stated that it is ongoing in its efforts to identify and prevent North Korea from using virtual currency theft and money laundering to fund its ballistic missile and weapons of mass destruction programs.

The FBI’s Stand Against Illegal Activities

The FBI has made it a priority to put an end to North Korea’s illegal methods of generating revenue, such as cybercrime and cryptocurrency theft. The FBI stated that it will continue to uncover and fight these illicit activities, recognizing North Korea by its official name, the Democratic People’s Republic of Korea (DPRK). The FBI recognizes the significance of preventing the illicit generation of funds, which would otherwise be used to support North Korea’s illegal activities and weapons development programs.