The Lazarus Group, a widely known North Korean hacking syndicate, has been recognized as the first suspect within the latest assault that noticed $100 million stolen from the Concord protocol. 

In line with a brand new report published Thursday by blockchain evaluation agency Elliptic, the way through which Harmony’s Horizon bridge was hacked and the best way through which the stolen digital property had been consequently laundered bears a placing resemblance to different Lazarus Group assaults.

“There are robust indications that North Korea’s Lazarus Group could also be answerable for this theft, primarily based on the character of the hack and the following laundering of the stolen funds.”

Moreover, Elliptic outlined precisely how the heist was executed, noting that The Lazarus Group focused the login credentials of Concord workers within the Asia Pacific area to breach the protocol’s safety system. After gaining management of the protocol, the hackers deployed automated laundering applications that moved the stolen property late at night time.

Elliptic additionally famous that the hackers have already transferred over 40% of the $100 million to Tornado Mixer, an Ethereum-based “mixing service” that obscures transaction knowledge and makes it extraordinarily tough for investigators to hint the motion of funds.

Initially, the Concord workforce supplied up a $1 million bounty as an incentive for the hackers to return the funds. Nonetheless, on June 29, Concord upped the bounty to $10 million and claimed {that a} full return of funds would finish the investigation and no additional felony prices can be pursued.

The $600 million Ronin bridge hack, which occurred in April, has additionally been linked back to The Lazarus Group. Because of present market situations, the worth of the stolen Ether (ETH) has plummeted greater than 60% all the way down to $230 million.

A latest report from Coinclub.com indicates that North Korea has deployed 7,000 full-time hackers to lift funds by way of cyberattacks, ransomware and crypto protocol hacks. North Korea is the world leader in cryptocurrency-related crime, with over 15 documented cases of cyber theft amounting to roughly $1.59 billion in stolen funds.

Associated: Harmony hacker sends stolen funds to Tornado Cash mixer

Concord’s Horizon bridge is the latest addition to a growing list of token bridges that have been attacked, together with Meter, Wormhole and Ronin, bringing the full quantity of bridge token-related theft to a little bit over $1 billion in 2022 alone.

The biggest token bridge to be hacked was Poly Community in 2021, which misplaced $610 million, nearly all of which has since been returned.