SECURITY

All North Korean hackers? Elliptic analyzes WazirX was attacked by North Korean hackers, and the recent $300 million from DMM as well?

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All North Korean hackers? Elliptic analyzes WazirX was attacked by North Korean hackers, and the recent $300 million from DMM as well?

Today, the well-known cryptocurrency exchange WazirX was hacked, resulting in a loss of up to $235 million in cryptocurrency assets. According to an investigation by the blockchain analysis company Elliptic, this attack is linked to North Korea and involves as many as 200 different cryptocurrencies. Are North Korean hackers becoming the new predators of exchange funds? Recently, it was also reported that $300 million from the well-known Japanese exchange DMM fell victim to North Korean hackers.

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Attack Details Revealed

Analysis by Elliptic shows that the attack resulted in approximately $235 million worth of stolen crypto assets, including around $97 million worth of Shiba Inu SHIB, $52.6 million worth of Ether ETH, $11 million worth of Matic, and $7.6 million worth of PEPE.

Asset Transfer and Money Laundering Process

The hackers have converted some tokens into Ether through various decentralized services, which is a typical initial step in the money laundering process. Elliptic has previously highlighted this in their report "The State of Cross-Chain Crime 2023". This action demonstrates the hackers' familiarity with and professional handling of the money laundering process.

On-chain analysis and other information indicate that this attack was carried out by hackers associated with North Korea.

Risk Prevention Measures

To address this threat, Elliptic has added addresses associated with the hackers to their system to ensure that their clients are promptly alerted when receiving funds from these sources. This measure aims to enhance the security of cryptocurrency transactions and prevent further funds from being illegally transferred and laundered.