Cryptheory – Just Crypto

Cryptocurrencies are our life! Get an Overview of Market News

US officials link North Korean group to attack on Axie Infinity’s Ronin

2 min read


The North Korean government-linked Lazarus hacking group has been named as the author of the attack against Axie Infinity’s Ronin, according to the report. Treasury Department from United States. Department members even discovered an ETH address associated with the group.

As seen in etherscan, the address was once associated with the Ronin attack, the biggest in cryptocurrency history. The portfolio has around 147,000 Ether (ETH), which corresponds to $447 million at the current price.

The address has now been added to the Treasury Department’s sanctions list. This was the first time that a wallet linked to Lazarus was targeted by US sanctions. Active since at least 2018, the group has reportedly stolen more than $5 billion worth of cryptocurrencies in recent years.

Wallet was labeled

In yet another transparency test of blockchain technology, the address was quickly classified as soon as the discovery took place. The first to do so was Nansen, which labeled the sanctioned address as “associated with the Ronin attack”.

Next, it was the turn of the data analysis company Chainalysis, confirming that the address is involved in the attack.

Finally, Ronin also updated its timeline of the attack with the Treasury Department’s discovery. According to the team, the FBI is also involved with the case.

It should be noted that the value found in the wallet is almost 30% lower than the total stolen in the attack. That is, the hackers managed to embezzle at least $150 million.

Ronin is a sidechain that connects Axie Infinity to ETH, allowing for faster and cheaper transactions. It was hacked in late March and lost 173,600 ETH and 25.5 million USDC. It was about $620 million, the biggest theft in the history of cryptocurrencies.

Spokespeople for the Treasury Department declined to comment on the case. According to a report by Chainalysis, the group stole $400 million worth of cryptocurrencies throughout the past year.

In short, if the theft is really Lazarus, the group will have overcome, with just one attack, all the value stolen in cryptocurrencies during 2021.

Cardano price prediction 2022 – 2030

All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

Leave a Reply