Ronin Hack Linked to North Korean Hackers, According to US Investigators

In the early hours of Thursday, April 14, the United States Department of the Treasury revealed that it had added the  Ethereum wallet tied to the Ronin hack to its sanctions list. The Ronin hack, in which 173,600 ETH and 25.5 million USDC was hijacked in two separate transactions, was recorded as the biggest cryptocurrency heist ever executed.

According to a spokesperson of the Treasury Department, the FBI and the Treasury Department combined forces in their investigation of the Lazarus Group to eventually uncover the malicious attackers and also try to prohibit other parties from allowing them to launder the stolen funds:

“Identification of the wallet will make clear to other VC actors that by transacting with it, they risk exposure to US sanctions. This demonstrates Treasury’s commitment to use all available authorities to disrupt malicious cyber actors and block ill-gotten criminal proceeds.”

RELATED: Over $1.22 Billion Stolen From DeFi Market By Hackers This Year

“There may be mandatory secondary sanctions requirements on persons who knowingly, directly or indirectly, engage in money laundering, the counterfeiting of goods or currency, bulk cash smuggling, or narcotics trafficking that supports the Government of North Korea or any senior official or person acting for or on behalf of that Government.”

 Virgil Griffith, Ex Top Developer at Ethereum, was sentenced to a five-year prison sentence for breaking US sanctions regarding North Korea earlier in the week.

Lazarus has been identified as a cybercrime group sponsored by the North Korean state which has also been revealed to be responsible for cyberattacks in South Korea, the Sony Pictures hack, a Bangladesh cyber heist, and the WannaCry ransom attack.

About Godwin

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