The Hackers Behind the Stake Heist Transfer $328,000 in Polygon and Binance Coin Tokens
A recent transaction carried out by the hackers responsible for the $41 million heist at the crypto casino Stake involved the transfer of $328,000 in Polygon (MATIC) and Binance Coin (BNB) tokens. The transaction included 300 BNB tokens, worth around $61,500, which were bridged to the Avalanche blockchain. Additionally, 520,000 MATIC tokens, valued at over $266,000, were relocated to the Avalanche network. These transfers follow the previous movement of $4.5 million to the Bitcoin blockchain. Despite these transfers, the total amount transferred so far represents only 1.2% of the stolen $41 million. Edward Craven, co-founder of Stake, assures users that no personal information or funds were compromised in the security breach.
Suspected Involvement of the Lazarus Group in Stake Heist
The US Federal Bureau of Investigation suspects that the Lazarus Group, also known as APT38 and believed to be funded by the North Korean government, played a role in the heist. This group has been linked to over $1 billion in cryptocurrency theft since 2022. They have been associated with major breaches, including the Atomic Wallet, Harmony’s Horizon bridge, Sky Mavis’ Ronin bridge, and thefts from Alphapo and CoinsPaid. The Office of Foreign Assets Control (OFAC) imposed sanctions on privacy tool Tornado Cash due to its alleged connections with the Lazarus Group. OFAC claims that the group used Tornado Cash to launder ill-gotten gains worth hundreds of millions.
Hot Take: Lazarus Group Continues to Target Cryptocurrency
The Lazarus Group, an alleged state-sponsored hacking organization funded by North Korea, has consistently targeted the cryptocurrency industry. With their suspected involvement in the Stake heist, along with other major breaches, it is evident that they pose a significant threat to the security of digital assets. Their ability to steal millions worth of cryptocurrencies highlights the need for robust security measures within the crypto space to protect against such attacks. The sanctions imposed on privacy tool Tornado Cash emphasize the importance of preventing crypto platforms from being used for money laundering purposes. As the cryptocurrency industry continues to evolve, it is crucial for individuals and businesses to remain vigilant and prioritize security.
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