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Cryptocurrency News Articles
Suspicions Arise as North Korea-Linked Entities May Be Behind $4M Hack of Decentralized Borrowing Protocol DeltaPrime
Sep 16, 2024 at 03:22 pm
DeltaPrime (PRIME), a decentralized borrowing protocol backed by Avalanche and GSR Markets, was hit by a $4 million hack stemming from an admin private key leak
Blockchain investigator ZachXBT highlighted that DeltaPrime had previously employed North Korean IT workers. However, the analyst noted that all flagged personnel had been removed, leaving questions about any connection between the hack and North Korea.
“Interesting to note that Delta Prime previously employed North Korean IT workers, which were highlighted by @otteroooo a few months ago. While all flagged personnel were eventually removed, it does raise questions given suspicions of entity 1254 being linked to the country.”
This is not the first time that North Korean entities have been suspected of involvement in crypto hacks. In 2022, the FBI alleged that the Lazarus Group, a North Korean state-sponsored hacking collective, was behind the $620 million hack of Axie Infinity’s Ronin bridge.
Suspicions of North Korea's involvement in crypto hacks
In March 2023, blockchain analytics firm Elliptic linked North Korean hackers to the $320 million crypto theft from decentralized exchange (DEX) BingX. The stolen funds were reportedly laundered through mixers like Tornado Cash and transferred to addresses linked to the Lazarus Group.
South Korea’s intelligence agency also accused North Korea of stealing a record $1.2 billion in crypto last year, with the funds being used to support the country’s nuclear and missile programs.
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