On Thursday, the Federal Bureau of Investigation linked North Korean hackers to a $600 million bitcoin theft from a business related with the famous crypto play-to-earn game Axie Infinity.
Although no one has publicly claimed responsibility for the hack, the US Treasury announced on Thursday that a digital currency address used by the hackers was held by a North Korean hacking group known as “Lazarus.”
A new Ethereum wallet address has been added to the Treasury Department’s list of sanctioned people linked to the Lazarus Group. Sky Mavis, the founder of Axie Infinity, recognized this wallet address as the Ronin attacker in late March.
The US Treasury’s wallet address is identical to the one used in the Ronin attack, according to blockchain analytics firms Elliptic and Chainalysis.
A hacker from North Korea has been identified.
“Through our investigation, we were able to identify that Lazarus Group and APT38,”
“two cyber actors linked to the Democratic People’s Republic of Korea, are responsible for the theft of $620 million”
” in Ethereum reported on March 29,”
So, the FBI said in a news statement.
According to a Ronin statement, by the end of the month, the network plans to deliver a “full post mortem” describing security measures implemented and next steps.
One Of The Most Important Hacks
The Blockchain project was hacked in March. The Ronin attack was one of the largest in crypto history, presenting severe security issues in a sector that has just recently acquired popularity due to celebrity endorsements and the promise of endless wealth.
In 2014, Lazarus was accused of hacking Sony Pictures Entertainment in retribution for the satirical film “The Interview,” which made fun of North Korean leader Kim Jong Un.
It has also been accused of being a part of the “WannaCry” ransomware attacks, as well as compromising foreign banks and consumer accounts.
NoKor is stepping up its cybercrime efforts.
According to a representative for the Treasury Department:
“The United States is aware that the DPRK has increasingly relied on illegal activities – including cybercrime”
” – to fund its weapons of mass destruction and ballistic missile programs in order to defy”
“stringent United States and United Nations sanctions.”
Popularity of Axie Infinity in Southeast Asia
As part of the “play to earn” trend, which allows players to earn cryptocurrencies by playing games, Axie Infinity has gained traction in Southeast Asian countries such as the Philippines.
Axie is already making thousands of dollars per month from dedicated gamers, and the site has grown quickly, with roughly 2 million active users in August.
The Philippines is home to over 40% of today’s Axie players.