North Korea-linked cybercrime syndicate Lazarus Group has reportedly transferred $63.4 million in Ethereum from 2022’s mammoth Harmony bridge hack, depositing it on Binance, Huobi, and OKX. According to on-chain sleuth ZachXBT, the group used the privacy and anonymity system Railgun before consolidating the funds and depositing them on the exchanges. Railgun is an Ethereum-based smart contract system that lets users obscure the nature of their crypto transactions, removing identifying information. The sleuth claimed that the transfers, made on January 13, involved 350,000 separate wallet addresses. Binance CEO Changpeng “CZ” Zhao said that his team, in collaboration with Huobi, had detected the funds’ movements, which they then froze and recovered. The Binance chief claimed that the total recovery came to 124 Bitcoin, suggesting that the attackers had converted funds from ETH to BTC. Though Lazarus reportedly originally made the illegitimate transfers in the form ETH, these tokens could have been later swapped for BTC at many points during the mixing and consolidating process.
Full story : Lazarus Group Moves 41,000 Ethereum Nabbed From Harmony Bridge Hack.
