Shiba

Polygon

Security

Shiba Inu

WazirX

Cryptocurrency exchange WazirX is reeling from a staggering&nbsp;<a style="text-decoration:none" href="https://bsc.news/post/wazir-x-india-suspends-withdrawals-after-234-9-m-theft-reported">$235 million hack</a>, allegedly orchestrated by hackers with ties to North Korea, according to blockchain analytics firm Elliptic.&nbsp;
Elliptic's&nbsp;<a style="text-decoration:none" href="https://www.elliptic.co/blog/235-million-lost-by-wazirx-in-north-korea-linked-breach">analysis</a> has linked the attack to techniques previously associated with the North Korean hacker group Lazarus. The use of TornadoCash, a privacy tool for cryptocurrencies, to obscure transactions mirrors tactics seen in previous Lazarus-led hacks.&nbsp;
&nbsp;
Deddy Lavid, CEO of Cyvers Alert, emphasized similarities to Lazarus Group's modus operandi, raising concerns about the group's involvement in the WazirX exploit.
<h2 dir="ltr" id="span-span-hack-unfolded-with-precision-span-span">Hack Unfolded With ‘Precision’</h2>
The hack&nbsp;<a style="text-decoration:none" href="https://x.com/Mudit__Gupta/status/1813881385800913327">unfolded</a> with calculated precision, starting its ominous path at least 8 days before its execution according to Polygon Labs' Chief Information Security Officer, Mudit Gupta. Gupta described the attack as methodical, pointing to the Democratic People's Republic of Korea (DPRK) as the likely culprit.&nbsp;
&nbsp;
The hackers reportedly exploited vulnerabilities in WazirX's multi-signature wallet, upgrading it to a malicious version that facilitated the unauthorized transfer of over $235 million in various cryptocurrencies.
&nbsp;
The aftermath of the attack revealed a vast array of cryptocurrencies stolen, including approximately $96.7 million worth of Shiba Inu (SHIB), $52.6 million in Ethereum (ETH), $11 million in Polygon's MATIC, and $7.6 million in memecoin Pepe. The hacker’s wallet holds&nbsp;<a style="text-decoration:none" href="https://debank.com/profile/0x04b21735e93fa3f8df70e2da89e6922616891a88/">$72.4 million in assets</a> at the time of writing.&nbsp;
<h2 dir="ltr" id="span-span-response-and-recovery-efforts-span-span">Response and Recovery Efforts</h2>
In response to the breach, Arkham, a prominent player in the crypto security space, announced a bounty of 5000 ARKM coins. This initiative aims to incentivize efforts to identify the hacker or recover the stolen funds.&nbsp;
&nbsp;
ZachXBT, a renowned crypto detective, has already contributed evidence towards identifying the hackers, showcasing the community's solidarity in tackling such incidents.
&nbsp;
Lazarus Group has gained notoriety for its persistent targeting of the cryptocurrency sector, with Chainalysis estimating its ill-gotten gains to exceed&nbsp;<a style="text-decoration:none" href="https://www.wsj.com/articles/how-north-koreas-hacker-army-stole-3-billion-in-crypto-funding-nuclear-program-d6fe8782">$3 billion</a> over the past five years.&nbsp;

North Korean Hackers Suspected in $235M WazirX Crypto Heist

Table of Contents

BSCN

Autres articles publiés le 25 juil. 2024

Most Trending Cryptos on Ethereum Chain Today – Tuition Coin, Cirus, Materium

Why Nigeria’s blockchain success hinges on private sector expertise

Crypto Shockwave: Marathon Digital Buys $100M in Bitcoin – Here’s Why!

Solana's Solend Rebrands to Save and Launches Dumpy.fun for Shorting Memecoins

How This Meme Coin Trader Made Over $1,700,000 With PEPE

Bitcoin Miners Have Upside As Power Shells With Data Center Capabilities: Bernstein

Join our free newsletter for daily crypto updates!