Roehl Niño Bautista · · 1 min readFBI tags North Korean group in Axie Infinity $620m hack
The FBI has pointed at North Korean hackers as the potential culprits behind the US$620 million security breach experienced by the Ronin Network, the Ethereum sidechain of play-to-earn game Axie Infinity, reported The Washington Post, citing a statement from the US government.
The US Treasury Department first connected the Axie Infinity hack to Pyongyang-linked Lazarus Group – also known as APT38 – when it was updating its sanctions listing on the group. This involved a cryptocurrency address used in the heist.
According to blockchain data company Chainalysis, this update confirms Lazarus Group’s involvement in the Axie Infinity hack.
Sky Mavis, creator of Axie Infinity, has since beefed up its platform’s defense by adding five Ronin validators to its pool.
Hackers from North Korea stole US$400 million in cryptocurrency last year, according to Chainalysis, a 40% increase in value from 2020. Lazarus Group has also been linked to the 2014 hacking of Sony Pictures.
Digital heists such as those involving cryptocurrencies are funding the country’s nuclear and ballistic programs, said The Washington Post, citing United Nations representatives.
Editing by Miguel Cordon and Lorenzo Kyle Subido
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
