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OFAC Update Claims Ronin Hack Is Tethered to North Korea’s Hacker Syndicate Lazarus Group

News Feed - 2022-04-16 01:04:26

OFAC Update Claims Ronin Hack Is Tethered to North Korea"s Hacker Syndicate Lazarus Group


According to the U.S. Treasury and the Office of Foreign Assets Control (OFAC), the recent Ronin bridge hack may have been tied to the North Korean hacker syndicate called Lazarus Group. Federal law enforcement officials have tied the flagged ethereum address connected with the Ronin bridge exploit to the group of hackers and added the crypto address to OFAC’s Specially Designated Nationals And Blocked Persons list (SDN). Ronin Bridge Exploiter’s Address Added to OFAC’s SDN List


On April 14, the U.S. government published an OFAC SDN list update which includes the ethereum (ETH) address involved in the recent Ronin bridge exploit. Bitcoin.com News reported on the Ronin bridge attack on March 29, after the protocol associated with the blockchain game Axie Infinity lost $620 million in crypto assets. To date, the Ronin bridge attack has been one of the largest decentralized finance (defi) exploits in 2022.


According to the U.S. Treasury and OFAC, the ethereum address, which is already flagged on blockchain explorers under the name “Ronin bridge exploiters,” belongs to the North Korean hacker syndicate called Lazarus Group. The ethereum wallet holds 144,837.79 ether worth roughly $438.6 million using today’s ether exchange rates. The newly updated SDN list explains that Lazarus Group has various names including the “Guardians of Peace,” “Hidden Cobra,” “Red Dot,” “Temp.Hermit,” and the “New Romantic Cyber Army Team.” Transactions With Any SDN-Listed Crypto Addresses Are Prohibited by the US Government


OFAC has warned the public about Lazarus Group in the past, as U.S. authorities believe the hackers have been involved with major crypto hacks and ransomware threats. There have also been many research studies that investigate the North Korean hacking group’s alleged activities. The U.S. Treasury’s and OFAC’s update on Thursday notes that the hacker syndicate is reportedly located in the Potonggang District, Pyongyang, North Korea. Transactions with the OFAC specified ethereum address are prohibited for U.S. persons and financial institutions.


According to a report published by the United Nations (UN) in March 2019, North Korea and the country’s supreme leader Kim Jong-un allegedly stockpiled at least $670 million worth of cryptocurrencies. On July 24, 2020, the U.S. Army published an investigative report that alleged North Korea has roughly 6,000 cyber hackers including the notorious Lazarus Group. Tags in this story axie infinity, defi exploits, ethereum address, ethereum addresses, Ethereum wallet, Financial Institutions, Guardians of Peace, Hacker Group, Hacker Syndicate, Hackers, Hidden Cobra, Kim Jong-un, Law Enforcement, Lazarus Group, north korea, OFAC, Potonggang District, pyongyang, ransomware, Red Dot, Sanctions, Treasury, U.S. authorities, united nations, United States, US Persons, US Treasury


What do you think about the U.S. government claiming that the Ronin bridge hacker is associated with the infamous Lazarus Group? Let us know what you think about this subject in the comments section below. Jamie Redman


Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today. Luna Foundation Purchases Another $5 Million in Bitcoin, LFG Wallet Holds 42,530 BTC NEWS | 5 hours ago Robinhood"s CEO, Elon Musk, and DOGE Co-Founder Billy Markus Discuss Improving Dogecoin NEWS | 9 hours ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleRobinhood’s CEO, Elon Musk, and DOGE Co-Founder Billy Markus Discuss Improving Dogecoin Next articleWant to Dodge Your Crypto Tax? Learn the Risks From Koinly Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItPolygon Announces Zero-Knowledge Identity Platform for Web3


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