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The infamous state-sponsored Lazarus Group from North Korea is believed to be behind the $55 million breach of the cryptocurrency exchange CoinEx. As per the latest update from well-known on-chain investigator ZachXBT, the hackers “accidentally” linked their address to the $41 million breach of the betting platform Stake.com.
Merely a day following the incident, the investigator identified an Ethereum wallet address likely associated with the perpetrators of both CoinEx and Stake.com, suggesting that the same group executed the attack.
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- The wallet in question, which had received funds from the recently compromised betting platform, interacted with the address that obtained the diverted funds from CoinEx, as noted by ZachXBT.
- The US Federal Bureau of Investigation (FBI) had earlier confirmed that the North Korea-linked Lazarus Group was accountable for a $41 million theft from Stake.com.
- After multiple alerts regarding the breach from on-chain analysts, CoinEx verified that its Risk Control System detected unusual withdrawals from several hot wallet addresses utilized for storing the exchange’s assets.
- CoinEx has temporarily suspended deposits and withdrawals while it investigates the hack that occurred across three different blockchains – Ethereum, Tron, and Polygon – involving a diverse range of tokens.
- Initially, the estimated value of the hack was $28 million. However, a spreadsheet from Slow Mist’s security platform later indicated that the actual amount stolen had increased to around $55 million.
- CoinEx has stated that it will provide a “comprehensive report” and a detailed timeline of the hack.
- In the same announcement, the cryptocurrency exchange also pledged to reimburse losses for all affected users.
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