U.S. imposes sanctions on hackers who stole $620 million worth of Ethereum

U.S. authorities have imposed restrictions on Lazarus Group, which has been linked to North Korea
U.S. imposes sanctions on hackers who stole $620 million worth of Ethereum

The U.S. imposed sanctions on the Lazarus Group hacker group, which has been linked to the DPRK. The Treasury Department blacklisted an Ethereum wallet belonging to the group. The Treasury Department cited the wallet number and claimed that the hackers were based in Pyongyang.

At the same time, the U.S. Federal Bureau of Investigation (FBI) said Lazarus Group and another hacker group, APT3, were involved in the theft of $620 million worth of Ethereum cryptocurrency.

“The FBI, together with the Treasury Department and other partners in the U.S. government, will continue to combat illegal DPRK activities, including cybercrime and cryptocurrency theft, to profit the regime,” the FBI said in a statement.

The Ronin blockchain bridge was hacked in March and over $625 million worth of cryptocurrency was withdrawn. Attackers took advantage of the vulnerability back on March 23, but the problem was not discovered until March 29, when a user was unable to withdraw 5k of Ethereum.

The Ronin hack is currently the largest in decentralized finance. It surpassed the previous record theft of 93.7 thousand Ethereum from Wormhole protocol, which took place in February of this year.

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The post was written by Crypto Expert John Belford

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