The $100 Million Horizon Hack: Following the Trail Through Tornado Cash to North Korea
Contents
Summary
- The Horizon Bridge hacker has sent over 98% of the $100 million in stolen cryptoassets into the Tornado Cash mixer.
- Mixers such as Tornado Cash are used to hide the transaction trail. However, Elliptic has used its Tornado demixing capability to trace all of the stolen funds through Tornado and onwards to other wallets. Users of Elliptic’s solutions can now screen wallets and transactions for links to the stolen funds – even those that have passed through Tornado.
- There are strong indications that North Korea’s Lazarus Group may be responsible for this theft, based on the nature of the hack and the subsequent laundering of the stolen funds. Lazarus is believed to have stolen over $2 billion in cryptoassets from exchanges and DeFi services.
Updated: 13th July 2022
On the morning of June 24th, over $100 million in cryptoassets was stolen from Horizon Bridge – a service that allows assets to …
- The Horizon Bridge hacker has sent over 98% of the $100 million in stolen cryptoassets into the Tornado Cash mixer.
- Mixers such as Tornado Cash are used to hide the transaction trail. However, Elliptic has used its Tornado demixing capability to trace all of the stolen funds through Tornado and onwards to other wallets. Users of Elliptic’s solutions can now screen wallets and transactions for links to the stolen funds – even those that have passed through Tornado.
- There are strong indications that North Korea’s Lazarus Group may be responsible for this theft, based on the nature of the hack and the subsequent laundering of the stolen funds. Lazarus is believed to have stolen over $2 billion in cryptoassets from exchanges and DeFi services.
Updated: 13th July 2022
On the morning of June 24th, over $100 million in cryptoassets was stolen from Horizon Bridge – a service that allows assets to …