Scams and hacks have been part of the crypto industry for a long time. While some hacks were clearly stealable, others were doing it it to remind networks of their vulnerabilities. Hackers usually work covertly and alone† however, a country may harbor an alleged army of hackers.
Over the years, there have been multiple theories about life in North Korea or the Democratic People’s Republic of Korea [DPRK]† While some suggest that the country’s citizens have lived in poverty, a few others believe it is a very unsafe country. Reports of how citizens should ask for permission to travel, go to the hairdresser and even dress as they please have surfaced.
Another thing North Korea specializes in is hacking. The world has witnessed a series of hacks in various sectors over the years, and North Korea is often mentioned in them. The country has a government-backed hacking network called Lazarus Group. It is believed that this group hacked into Sony Pictures after the release of the movie ‘The Interview’.
The same group shifted its focus to the crypto verse. The same Lazarus Group reportedly orchestrated the recent hacks of Axie Infinity’s Ronin Bridge and Harmony’s Horizon Bridge.
Can North Korea’s Lazarus Group Destroy Crypto Verse?
Amid the ongoing bear market, users faced bigger losses after several prominent platforms were hacked. The platforms’ attempts to recover stolen funds were all in vain. Ronin Bridge was hacked for a whopping $625 million. Fake Jobs gave hackers access to validators in the network.
Furthermore, several blockchain security firms believe that the Lazarus Group was also behind the Harmony hack. Harmony’s Horizon Bridge was robbed of $100 million.
It looks like North Korea could be following a trend here. Bridges seem to have become easy targets for these hackers. Moreover, there were also other similarities in these hacks.
It also came to light that these hackers work 16-hour shifts from 6 a.m. The hackers have reportedly been sent to countries such as Russia and China for special training in cyber warfare. Moreover, even with the involvement of the FBI and other national security agencies, it would be nearly impossible to charge these hackers. The collection of stolen money is undoubtedly out of the picture.
Therefore, if hacks like this from a government-backed platform prevail, the crypto verse could be in serious trouble.