U.S. Treasury Department eyes North Korean hacking group Lazarus over Ronin Bridge exploit
The crypto world will forever remember the Ronin Bridge exploit which struck fear in the hearts of the gamers that enjoyed the Axie Infinity game. Ronin Bridge was launched as an Ethereum side-chain to allow faster and cheaper transactions for players of the P2E. With nearly $624,000,000 worth of assets being stolen, the FBI holds North Korean hacking group Lazarus accountable.
Lazarus attacked the Ronin Bridge
The crypto world is still like the Wild West, full of scammers who aim to loot the hard-earned money that many people have invested in DeFi protocols. In the light of the Ronin Bridge hack, the U.S. Treasury Department collaborated with the FBI to discover where the funds stolen via the hack are being relocated to.As per the report from Bloomberg, the Treasury Department and the FBI initiated the process of finding the wallet to which the funds were being redirected. Bloomberg further added:
"The FBI said in a statement that an investigation had determined that the hacking outfits Lazarus Group and APT38, both associated with North Korea, were behind the theft. The bureau added that such crimes generate revenue for the North Korean regime."An Ethereum wallet address that the FBI and The Treasury found was added to the list of sanctions on Thursday. The funds were removed from the wallet via Tornado Cash, a platform that allows anonymous transactions using cryptocurrencies.
Secondary sanctions to be imposed
As per Bloomberg's report, the Treasury spokesperson who asked to remain unnamed said that anyone who is found helping out the regime of North Korea led by Kim Jong Un via money laundering, bulk cash smuggling, or other means will receive secondary sanctions as well. These penalties also include anyone who plans to help the government officials of North Korea.In the light of these events, the spokesperson also said that the US Treasury Department will be releasing a guideline in the near future so that people are able to safeguard their investments.
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