Blockchain scientists state North Korea-linked hackers are most likely behind a US$ 70 million ($ 109 million) theft from crypto exchange CoinEx.
CoinEx, which states it is based in Hong Kong, stated recently on social networks platform X, previously called Twitter, that wallets utilized to save the exchange’s crypto properties had actually been hacked.
It approximates its losses at US$ 70 million, which it stated is a “little part” of its overall properties.
Blockchain research study company Elliptic stated that “a variety of elements” show that the Lazarus Group – a hacker group related to North Korea – was accountable for the attack.
CoinEx has actually not stated who it thinks lagged the attack, although it has actually informed Reuters it understands that some security companies have actually declared cyber-espionage groups connected to North Korea were to blame.
” The hacker’s identity stays under examination,” CoinEx informed Reuters by means of e-mail.
CoinEx did not react to a Reuters remark demand sent out by means of e-mail in the future Friday, beyond Hong Kong hours, about Elliptic’s research study, which was released in a post.
Elliptic stated that a few of the funds taken from CoinEx were sent out to a crypto wallet address which had actually formerly been utilized by the Lazarus Group to wash taken funds.
The funds were likewise sent out to the Ethereum blockchain utilizing a blockchain “bridge” – a method of moving funds in between various blockchains – which had actually likewise formerly been utilized by the Lazarus Group.
North Korea’s objective to the United Nations in New York City did not react to a Reuters remark demand sent out by means of e-mail.
Another blockchain research study company, Chainalysis, informed Reuters it had “medium-high self-confidence” that North Korea lagged the attack.
Elliptic stated the Lazarus Group “appears to have actually just recently increase its operations”, taking around US$ 240 million worth of crypto properties in 4 different attacks considering that the start of June, in addition to the CoinEx attack.
North Korea stepped up its cryptocurrency theft in 2015, utilizing advanced strategies to take more in 2022 than any other year, according to a United Nations report.
Sanctions screens have actually formerly implicated North Korea of utilizing cyber attacks to assist money its nuclear and rocket programs.
North Korea has actually formerly rejected accusations of hacking or other cyber attacks.