Hackers steal money – level 3

11-07-2022 07:00

Technology companies suspect North Korean hackers committed a $100 million robbery on a California blockchain company called Harmony.

It confirmed that they hacked some of its software that uses cryptocurrency to move across different blockchains.

A blockchain security company called Elliptic Enterprises tracks stolen cryptocurrency. They said that the hackers are the Lazarus Group, and they stole user name and password credentials for Harmony employees to break into the platform.

The Lazarus Group has an unknown number of individuals led by North Korea, and experts believe that the government supports by the group.

North Korean hackers are increasingly sophisticated. In 2021, they stole an estimated $400 million, mostly in Ether; however, the total for 2022 has already passed that number. The group’s biggest hack happened in 2014 when the group attacked Sony Pictures Entertainment, and they cost caused $15 million in damages.

Difficult words: blockchain (a system of transactions in cryptocurrency), password credential (a username and password), Ether (the cryptocurrency of global software platform Ethereum).

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