OFAC Update Claims Ronin Hack Is Linked To North Korean Hacker Syndicate Lazarus

According to the US Treasury and the Office of Foreign Assets Control (OFAC), the recent Ronin Bridge hack may have been linked to the North Korean hacker syndicate called Lazarus Group. Federal law enforcement officials have linked the reported Ethereum address linked to the Ronin Bridge exploit to the hacker group and added the crypto address to the Specially Designated Nationals and Blocked Persons (SDN) list. ‘OFAC.

Ronin Bridge Exploiter address added to OFAC SDN list

On April 14, the US government released an updated OFAC SDN list that includes the Ethereum (ETH) address involved in the recent Ronin Bridge exploit. Bitcoin.com News reported on the Ronin Bridge attack on March 29, after the protocol associated with the Axie Infinity blockchain game lost $620 million in crypto assets. The Ronin Bridge attack has been one of the biggest decentralized finance (defi) exploits of 2022 to date.

According to the US Treasury and OFAC, the Ethereum address, which is already reported on blockchain explorers as “Ronin Bridge Exploiters”, belongs to the North Korean hacker syndicate called Lazarus Group. The Ethereum wallet contains 144,837.79 ether worth approximately $438.6 million using today’s ether exchange rates. The recently updated SDN list explains that the Lazarus group goes by various names, including the “Peacekeepers”, “Hidden Cobra”, “Red Dot”, “Temp.Hermit”, and the “New Romantic Cyber ​​Army Team”. “.

Transactions with all crypto addresses listed on SDN are prohibited by the US government

OFAC has warned the public against the Lazarus Group in the past because US authorities believe hackers have been involved in major crypto hacks and ransomware threats. There have also been numerous research studies that investigate the alleged activities of the North Korean hacking group. Thursday’s US Treasury and OFAC update notes that the pirate syndicate is believed to be located in the Potonggang district of Pyongyang, North Korea. Transactions with the Ethereum address specified by OFAC are prohibited for US persons and financial institutions.

According to a report published by the United Nations (UN) in March 2019, North Korea and the country’s supreme leader, Kim Jong-un, have stockpiled at least $670 million worth of cryptocurrencies. On July 24, 2020, the US military released an investigative report that North Korea has around 6,000 cyber hackers, including the notorious Lazarus group.

Keywords in this story

axie infinity, defi exploits, ethereum address, ethereum addresses, ethereum wallet, financial institutions, Peacekeepers, Hacker Group, Hacker Syndicate, Hackers, Hidden Cobra, Kim Jong-un, Law Enforcement, Lazarus Group, north korea, OFAC , Potonggang District, pyongyang, ransomware, Red Dot, sanctions, Treasury, US authorities, United Nations, United States, US Persons, US Treasury

What do you think of the US government claiming that bridge hacker Ronin is associated with the infamous Lazarus Group? Let us know what you think about this topic in the comments section below.

Jamie Redman

Jamie Redman is the News Manager at Bitcoin.com News and a fintech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He is passionate about Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written over 5,000 articles for Bitcoin.com News about disruptive protocols emerging today.




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