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LONDON, Sept 15 (Reuters) – Blockchain researchers say North Korea-linked hackers are probably behind a $70 million theft from crypto change CoinEx.
CoinEx, which says it’s based mostly in Hong Kong, mentioned on Tuesday on social media platform X, previously referred to as Twitter, that wallets used to retailer the change’s crypto property had been hacked. It mentioned on Friday it estimates its losses at $70 million, which it mentioned is a “small portion” of its complete property.
Blockchain analysis agency Elliptic mentioned that “plenty of components” point out that the Lazarus Group – a hacker group related to North Korea – was chargeable for the assault.
CoinEx has not mentioned who it believes was behind the assault, though it has informed Reuters it’s conscious that some safety companies have claimed cyber-espionage groups linked to North Korea have been in charge.
“The hacker’s id stays below investigation,” CoinEx informed Reuters by way of e mail early on Friday. CoinEx didn’t reply to a Reuters remark request despatched by way of e mail afterward Friday, outdoors of Hong Kong hours, about Elliptic’s analysis, which was printed in a weblog put up.
Elliptic mentioned that a number of the funds stolen from CoinEx have been despatched to a crypto pockets deal with which had beforehand been utilized by the Lazarus Group to launder stolen funds. The funds have been additionally despatched to the Ethereum blockchain utilizing a blockchain “bridge” – a means of transferring funds between completely different blockchains – which had additionally beforehand been utilized by the Lazarus Group.
North Korea’s mission to the United Nations in New York didn’t reply to a Reuters remark request despatched by way of e mail.
Another blockchain analysis agency, Chainalysis, informed Reuters on Thursday it had “medium-high confidence” that North Korea was behind the assault.
Elliptic mentioned the Lazarus Group “seems to have just lately ramped up its operations”, stealing round $240 million value of crypto property in 4 separate assaults because the starting of June, along with the CoinEx assault.
North Korea stepped up its cryptocurrency theft final 12 months, utilizing refined strategies to steal extra in 2022 than every other 12 months, based on a United Nations report. Sanctions displays have beforehand accused North Korea of utilizing cyberattacks to assist fund its nuclear and missile packages.
North Korea has beforehand denied allegations of hacking or different cyberattacks.
Reporting by Elizabeth Howcroft and Raphael Satter, Editing by Louise Heavens
Our Standards: The Thomson Reuters Trust Principles.
