FBI Says $620 Million Axie Infinity Heist Was The Work Of North Korean Gangs

Last month saw Axie Infinity’s Ronin Network get hacked for roughly $625 million worth of Ethereum and USDC tokens in what could be the biggest cryptocurrency heist in history. The FBI have now tracked down the culprits and it’s probably come as a surprise to everyone.

According to the federal law enforcement agency, a pair of North Korean gangs known as APT38 and Lazarus Group were behind the multimillion-dollar cyberattack. The Bureau also clarified that the hackers were only able to steal $620 million and not $625 million which Ronin initially reported following the attack.

“FBI Statement on Attribution of Malicious Cyber Activity Posed by the Democratic People’s Republic of Korea – The FBI continues to combat malicious cyber activity including the threat posed by the Democratic People’s Republic of Korea to the U.S. and our private sector partners.

Through our investigation we were able to confirm Lazarus Group and APT38, cyber actors associated with the DPRK, are responsible for the theft of $620 million in Ethereum reported on March 29.

The FBI, in coordination with Treasury and other U.S. government partners, will continue to expose and combat the DPRK’s use of illicit activities – including cybercrime and cryptocurrency theft – to generate revenue for the regime.”

Gizmodo reports that the Lazarus Group has made off with a total of over a billion US dollars in cryptocurrency and actual money. The group is now reportedly trying to launder their score through a dark money mixer called Tornado Cash.

More information can be found on the FBI official site.