The North Korean Lazarus Group has transferred $64 million in ETH from the Harmony Attack.

Lazarus, the infamous North Korean hacker group, had a rough summer transferring millions of dollars in Ethereum.

This weekend, The Lazarus Group has started transporting their loot from the Harmony Bridge breach.

Blockchain detective “ZachXBT” posted information about the transfers of significant sums of Ethereum on January 16. The Tornado Cash securely encrypted service was the source of the cryptocurrency assets, which were routed through Railgun.

A smart contract confidentiality framework called Railgun conceals operations using zero-knowledge proof.

According to the researcher who tracked the transfers through further than 350 accounts, 41,000 ETH worth around $63.5 million was transmitted via Rail Gun before even being transferred on three distinct exchanges.

North Koreas Lazarus Group had a very busy weekend moving $63.5m (~41000 ETH) from the Harmony bridge hack through Railgun before consolidating funds and depositing on three different exchanges. pic.twitter.com/huDumaJeSh

— ZachXBT (@zachxbt) January 15, 2023

Lazarus and the Harmony Attack

It was not stated which exchanges have been used, but the analyst claimed that it is often removed from them very shortly.

Lazarus has gotten pretty good at transporting illegal cryptocurrency while avoiding being found by law enforcement. The Harmony Bridge attack in June 2022 was associated with the cyber collective. Elliptic, a company that performs blockchain analysis, at the time provided a thorough report on the attack.

According to CryptoPotato, Harmony Bridge was breached on June 24 for around $100 million. Elliptic claimed to have employed “Tornado demixing capabilities” to follow the stolen money through Tornado and to other accounts.

The Lazarus Group has indeed been implicated in a number of significant cryptocurrency heists worth more than $2 billion. It began concentrating on DeFi and cross-chain crossings in 2022 and was thought to be responsible for the $600 million Ronin Bridge attack.

Phishing attacks were launched against Japanese crypto asset exchanges in October by a North Korean hacking outfit.

Over the weekend, the cryptocurrency markets maintained their recent advances. With a 1.7% increase in total capitalization, they had advanced even further during in the Monday morning Asian trading period. According to CoinGecko, that amount has now surpassed $1 trillion, reaching a ten-week high.

At the time of writing, Bitcoin has increased by 1.8% throughout the day to reach $21,155. At $1,566 per coin, Ethereum was ahead 2.5%.

As a reminder, WikiBit is ready to help you search the qualifications and reputation of projects in a bid to protect you from hidden dangers in this risky industry!

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