As of 23rd June, tongues were left wagging as to how $100 million suddenly disappeared from the Horizon Bridge, which is the system responsible for the transfer of blockchain assets under Harmony blockchain-based in California.

Reports gathered that the Horizon Bridge was hacked by infamous hackers who used dubious internet tools to get private information from Harmony workers and gain access to the company’s source of cash flow.

After a series of investigations, Elliptic Enterprises Ltd. — the forensics arm of the blockchain company — has boldly come out to say it has identified the perpetrators of the money laundering.
Elliptic claims that the Lazarus group, a North Korean infamous hacking group, is behind the whole theft occurrence.

This claim comes after it was observed that other money laundering issues and techniques matched the same procedure that led to the $100 million theft. The incident of money laundering at Ronin Bridge was also cited as a piece of evidence.

Another firm currently investigating the issue is Chainalysis. This firm has also confirmed that Lazarus’ group is the hacking group behind the theft. This, the firm said, is likened to the high-velocity process these hackers use and the pattern that was used in diverting the money to Tornado Cash Mixer — a cryptocurrency-mixing service.

This report, if found to be true, comes as the eighth successful money laundering exploitation by the North Korean hacking group which amounts to about $1 billion already.

In what looks more like a threat, the Harmony blockchain group has given the hackers till Monday to return the stolen assets. The group has also offered the hackers 10% of the whole money laundered, telling them to return the rest in anonymity.

In the midst of this is a North Korean government that is bent on acquiring nuclear and ballistic missiles.

Source of featured image: gettyimages.com