• The FBI has concluded its investigation into the June 2020 crypto hack of US-based Harmony protocol, which saw the theft of $100 million worth of crypto.
• The investigation revealed that the attack was perpetrated by two North Korea-backed hacking groups, the Lazarus Group and the APT38.
• The breakthrough in the investigation came on January 13 when the hackers attempted to move over $60 million of ETH that they had stolen during the attack.
The Federal Bureau of Investigation (FBI) has recently concluded its investigations into the June 2020 crypto hack that saw US-based Harmony protocol, lose $100 million worth of crypto. The investigation revealed that the attack was perpetrated by two North Korea-backed hacking groups, the Lazarus Group and the APT38.
The FBI’s breakthrough in the investigation came on January 13 when the bad actors attempted to move over $60 million of ETH that they had stolen during the attack. The hackers had used a privacy protocol called RAILGUN to try to conceal their transactions. Some of the funds were sent to various crypto exchanges and converted to Bitcoin, however, some exchanges were able to freeze and recover the remaining funds as the hackers attempted to swap them for Bitcoin.
The FBI’s conclusion of their investigation into the Harmony protocol hack is an important step, as it brings to light the roles of the North Korea-backed hacking groups in the cyber attack. It also serves to warn other crypto companies to be extra vigilant in their security measures, to ensure that such an attack does not occur again.
In addition to the FBI’s findings, other organizations and experts have also been looking into the attack. For example, the Blockchain Intelligence Group has discovered that the hackers had used a variety of techniques in order to hide their activities, including mixing services and decentralized exchanges, as well as the RAILGUN protocol.
The FBI’s conclusion of the investigation into the Harmony protocol hack is an important step, as it sheds light on the roles of the North Korea-backed hacking groups in the cyber attack. It also serves to warn other crypto companies to be extra vigilant in their security measures, to ensure that such an attack does not occur again. This is a reminder that the cryptocurrency space needs to remain vigilant and take extra measures to protect itself against malicious actors.