A Mystery From Lazarus Group – A Staggering $64M ETH Transferred.
The mysterious group Lazarus have done it again. They have recently transferred a staggering amount of money – an incredible $64M in Ethereum – after hacking the Harmony Bridge.
How did it happen? What does it mean for Ethereum? Let’s find out!
Last Year’s Security Breach
The unfortunate breach on the Harmony Bridge had happened last year, in 2020. Many users were disappointed that the protocols had not been updated.
The intent behind undoing the security protocols had been to facilitate value-based transactions. This should have been a good thing, but instead, it created a loophole in the system.
Enter The Lazarus Group
The infamous Lazarus Group had recently made headlines for their attack on the South Korean crypto token exchange, Bithumb. This also involved Ethereum, but this time the sum was way bigger.
The hackers cleverly capitalised on the loophole that was created on the Harmony Bridge and transferred a whopping amount of $64M in Ethereum to their wallets.
A Call For Better Security Protocols
The ETH community is still in a state of shock, wondering how the hackers managed to perform such a heist. We do know one thing, however – this was only possible due to the lack of appropriate security protocols.
Given the situation, the community is understandably worried about the security of their ETH. We need to ask the important questions:
- Are our protocols up to date?
- Do we need better methods for keeping our transactions secure?
Although it was nobody’s intention for such a huge sum of money to slip away so easily, we can’t deny the humorous consequence that the hackers are probably living their best lives.
Lazarus Group probably gets confused why they didn’t take all 21 million coins while they were at it, it would’ve been easily doable with the $64M in Ethereum!
Lazarus Group’s theft of $64M in Ethereum from the Harmony Bridge brings to light how important it is to be vigilant in our security protocols.
We need to ask important questions to ensure our transactions remain secure and safe. We also need to keep a sense of humour about the situation!
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