North Korean Attackers Snipes Axie Infinity Gamers In $620 Million Burgle: FBI

As per United States authorities, hackers associated to North Korea were involved in the crypto heist involving Axie’s Ronin Bridge.
Federal Bureau of Investigation (FBI) pointed out hackers linked to North Korea in Ronin Bridge collapse.
In the attack, hackers sought and targeted vulnerability stemming from a fix in place for betterment of crypto functionality in Axie Infinity.

North Korea Hackers Broke Ronin Bridge?

United States authorities stated on Thursday that Axie Infinity’s Ronin Bridge collapse previous month was carried out by North Korean hackers.

This hack was among the greatest crypto heists organized in this space, raising queries regarding security in a sector which recently exploded into mainstream. Previous month’s cyber theft came just weeks after attackers made off with around $320 Million in a similar hack.

FBI confirmed in a statement that Lazarus group and ATP38, North Korean attackers, were involved in the theft.

Lazarus Group gained prominence back in 2014 when it was alleged of attacking into Sony Pictures Entertainment as a payback for movie titled The Interview, featuring Seth Rogen and James Franco, and was a comic story focusing their visit in North Korea and its current ruler.

Cyber program of North Korea dates back to mid 90s, but has since inflated to a 6,000-strong cyber-warfare division, called Bureau 121, which functions from several nations involving Belarus, Russia, Malaysia, China and India, as per United States Military report 2020.

A threat analyst with virtual security organization Netenrich, John Bambenek stated that, North Korea is “unique” in employing groups committed to crypto theft.

Also Read: Has the hacker of Axie Infinity Ronin bridge started moving stolen ethereum funds?

The Audacity Of These Hackers

North Korean attackers bagged around $420 million worth of crypto assets via cyber attacks in virtual currencies outlets previous year as per a blockchain data analytics platform Chainalysis.

In case of Axie’s Ronin Bridge hack, attackers found the weakness and sniped at that precise spot.

The organization had to solve an issue: Ethereum blockchain, where ETH transactions are logged, is relatively costly to use and are slow.

In order to allow Axie Infinity gamers to acquire and sell swiftly, the organization made an in-game currency as well as a sidechain with a bridge to the core ethereum blockchain.

The outcome was inexpensive and much quick, but eventually less secure.

The hack aiming at its blockchain netted 173,600 ETH and $25 Million worth of stablecoin, a dollar pegged virtual asset.