A massive setback unfolded as global cryptocurrency exchange Huobi fell victim to a cyberattack, resulting in the robbery of approximately $7.9 million, or 5,000 ETH. The alarm was first sounded by CyversAlerts, a reputable crypto security firm, which attributed the theft’s success to a breach in one of Huobi’s hot wallets, a variety of easily accessible internet-connected cryptocurrency wallets.
The situation gained further credibility when Huobi Global investor Justin Sun confirmed the attack. It appears the global exchange was able to corner the crypto wallet address of the culprits and determine their identity. This prompted a bold move by Huobi, who reached out to the hackers with an intriguing proposition inscribed within a transaction sent to the hacker’s wallet.
Huobi declared they were aware of the perpetrators’ identities and insisted on the return of the stolen funds within a specified window of time. In a surprising twist, Huobi offered the offenders a 5% reward on the recouped funds, approximating to $395K, and proposed the instatement of the hacker as a security consultant, as confirmed by Sun. Nevertheless, any failure to comply with these terms would result in hard-boiled legal action.
There is a swirling pool of speculation regarding the possibility of this assault being another attempt by the infamous Lazarus Group — a North Korean-linked cyberattack organization with an alarming track record. Cryptocurrency exchanges have proven lucrative for cybercriminals, with the lax security framework and the large crypto hoard they safeguard making them irresistible targets. According to a Crystal Blockchain report, a staggering amount nearing $16.7 billion in cryptocurrencies was looted from January 2011 until February 2023.
Merely twelve days ago, things took a turn for the worse when blockchain security platform CertiK declared the Lazarus Group was behind a mammoth depot of $41 million stolen from Stake online casino. Again, $266K worth of 520,000 MATIC tokens were swapped and transported to the Avalanche blockchain by the exact same Lazarus Group.
However, it’s important to note that, whilst the narrative is compelling, there is currently no solid proof linking the Lazarus Group to Huobi’s recent security setback. As we wait with bated breath, the upcoming days are bound to shed more light on this complex scenario.
Source: Cryptonews
