A photo illustration showing the North Korean flag and a computer hacker.
Budrul Chukrut | Sopa Images | Lightrocket | Getty Images
North Korean state-sponsored hackers were likely the perpetrators of a hack that led to the theft of around $100 million in cryptocurrency, according to analysis from blockchain researchers.
The hackers targeted Horizon, a so-called blockchain bridge developed by U.S. crypto start-up Horizon. The tool is used by crypto traders to swap tokens between different networks.
There are “strong indications” that Lazarus Group, a hacking collective with strong ties to Pyongyang, orchestrated the attack, blockchain analytics firm Elliptic said in a blog post Wednesday.
Most of the funds were immediately converted to the cryptocurrency ether, Elliptic said. The firm added that hackers have started laundering the stolen assets through Tornado Cash, a so-called “mixing” service that seeks to obscure the trail of funds. So far, around $39 million worth of ether has...
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