INCIDENT: Largest Crypto Hack against a Decentralized Finance Network Hit Ronin Network (RON) Blockchain Network.

Earlier in March this year, Ronin Network (RON), a blockchain network underpinning the famous crypto game Axie Infinity and Axie DAO suffered the largest crypto hack against a decentralized finance network reported to date.

In May 2022, the United States issued an advisory according to which highly skilled hackers from North Korea were trying to get employed by posing as IT freelancers. Now, it has been revealed that Axie Infinity hacking was socially engineered in which North Korean government-backed hacker group Lazarus used a fake job offer to infiltrate Sky Mavis’ network by sending one of the company’s employees a PDF file containing spyware.

Lazarus’ involvement in such a high-profile hack should not come as a surprise. In January 2022, researchers from different crypto security firms concluded that North Korean hackers have so far stolen $1.3 billion from cryptocurrency exchanges across the globe, while their prime suspect in these hacks was the infamous Lazarus gang.

Incident Date

March 23, 2022

Location

Estimated Cost

almost $615 million worth of cryptocurrency

Victims

Type of Malware:

No Malware identified

Threat Source:

References:

  • U.S. ties North Korean hacker group Lazarus to huge cryptocurrency theft
  • Hackers Used Fake LinkedIn Job Offer to Hack Off $625M from Axie Infinity

Industries:

Impacts

IT

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