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LayerZero among bridges Lazarus using to launder loot

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LayerZero among bridges Lazarus using to launder loot

Laundering of the proceeds from Saturday’s $290 million rsETH hack is well and truly underway, and state-sponsored North Korean hacking collective Lazarus Group is suspected to be behind the theft, given the commingling of funds with other TraderTraitor-related hacks, BTC Turk and ByBit.

As with previous incidents, the culprits have taken to funneling vast volumes through blockchain bridges. The tools used so far even include LayerZero, the bridging protocol from which the $290 million rsETH were originally stolen.

Read more: DeFi sector in $14B meltdown as $290M rsETH hack fallout burns Aave

The efforts began shortly after Arbitrum’s Security Council rescued over 30,000 ether (ETH), slashing the hackers’ realized profit from $245 million to around $175 million.

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One on-chain analyst, who goes by “Specter,” claims to have tracked over 1,600 transactions via 370 addresses in the first 12 hours of laundering. That’s an average of one transaction every 25 seconds.

As of Wednesday morning, they tallied $116 million as having been laundered to bitcoin (BTC), with another wallet currently holding $61 million still to go.

Read more: DeFi plays the blame game

Mixed reactions

The projects behind the bridges themselves have responded differently to the ill-gotten gains flowing through their tech.

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Privacy protocol Umbra acknowledged that $800,000 worth of ETH had passed through its system. While the project underlined its inability to stop illicit use of its autonomous smart contracts, it did put its own hosted front end into “maintenance mode.”

THORChain, as usual, washed its hands of responsibility, with varying degrees of diplomacy.

Read more: Vultisig founder says DPRK-linked Bybit transactions are ‘legitimate’

Specter estimates that 99% of the laundered funds flowed through THORChain, whose dashboard shows over $100,000 of affiliate fees earned on Tuesday.

While THORChain’s bridging infrastructure is decentralized across a network of 95 active nodes, affiliate fees come from use of its front end. Blockchain investigator Tanuki42 puts the recent fees at more than double year-to-date revenue.

In attempting to defend THORChain’s inability to prevent illicit use, founder JP let slip that the protocol held an admin key for many years.

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Read more: DeFi karma: Garden hacked for $11M after bridging Lazarus’ loot

No let up 

The DeFi sector has faced two catastrophic hacks so far this month, with combined losses of well over half a billion dollars.

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On top of this, a slew of smaller incidents also continue to batter community morale.

While DeFi users and developers alike are still reeling from the fallout of Saturday’s incident, just last night a further $3.5 million was lost.

Read more: Inside the $280M Drift hack: weeks of setup, minutes to drain

Since the hack, Volo has provided two separate updates, informing users it had recovered $500,000, and then 19.6 BTC ($1.3 million).

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As if near constant multi-million dollar hacks weren’t enough to worry about, ongoing phishing campaigns continue to hook victims.

In a span of just 11 hours, four victims reportedly lost almost $600,000 to the same drainer contract.

Got a tip? Send us an email securely via Protos Leaks. For more informed news and investigations, follow us on XBluesky, and Google News, or subscribe to our YouTube channel.

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Crypto World

Polymarket and Kalshi Are Both Set to Launch Perp Trading

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Polymarket announced early access for perpetual futures trading, while The Information reported that Kalshi is planning a similar product launch.

The two largest prediction market platforms by trading volume are both moving into perpetual futures trading, per reports arriving within hours of each other on Tuesday, April 21.

Polymarket’s move is official. The on-chain prediction marketplace posted on X Tuesday evening: “Perps are coming to Polymarket.” The platform is accepting early access sign-ups for the product, which will allow traders to take leveraged long or short positions on assets including BTC, stocks, and gold without a fixed expiration date.

Separately, The Information reported on Tuesday morning that Kalshi plans to launch crypto trading, beginning with perpetual futures, citing people familiar with the matter.

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According to the report, Kalshi will start with crypto perps and may expand to perps tied to other asset classes over time.

Perp trading has exploded in popularity over the past year, notably on decentralized platforms, mostly led by Hyperliquid. But centralized platforms, led by Binance, still dominate in terms of volumes and open interest, per CoinGecko data.

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Monthly perp DEX combined volume and OI. Source: DefiLlama

Commodity Futures Trading Commission Chairman Michael Selig said last month that the agency plans to allow regulated perpetual futures in the United States, to attract trading volume back from offshore platforms.

The Information’s report notes that Kalshi recently secured a CFTC margin trading license, positioning it to offer the product.

The move would put both Polymarket and Kalshi in more direct competition with both centralized and on-chain exchange platforms, several of which, like Coinbase, have begun adding prediction markets.

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Combined monthly trading volumes on Kalshi and Polymarket last month reached over $23 billion, an all-time high. Since the start of this year, both platforms have consistently seen near or over $2 billion in trades each week, per Token Terminal data.

Regulatory Questions

The launches come amid rapid regulatory change for the sector. The CFTC launched a sweeping review of prediction markets in March, after Chair Selig clarified that the agency thinks such platforms should be regulated federally, not by each state. At the same time, both platforms continue to face state-level legal pressure, as gambling is a state-regulated activity in the U.S. and multiple states have alleged that the platforms need gambling regulator licenses to operate in the state.

This article was written with the assistance of AI workflows. All our stories are curated, edited and fact-checked by a human.

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Lazarus Group Malware Targets Crypto, Business Execs via macOS

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Lazarus Group Malware Targets Crypto, Business Execs via macOS

Security researchers have linked a new macOS malware campaign to the Lazarus Group, the North Korea-linked hacking operation behind some of the crypto industry’s biggest thefts.

Flagged on Tuesday, the new “Mach-O Man” malware kit is distributed via “ClickFix” social engineering schemes across traditional businesses and crypto companies, according to Mauro Eldritch, offensive security expert and founder of threat intelligence company BCA Ltd.

Victims are lured into a fake Zoom or Google Meet call where they are prompted to execute commands that download the malware in the background, allowing attackers to bypass traditional controls without detection to gain access to credentials and corporate systems, the security researcher said in a Tuesday report.

Researchers said the campaign can lead to account takeovers, unauthorized infrastructure access, financial losses and the exposure of critical data, underscoring how Lazarus continues to expand its targeting beyond crypto-native companies.

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The Lazarus Group is the main suspect in some of the largest-ever cryptocurrency hacks, including the $1.4 billion hack of Bybit exchange in 2025, the industry’s largest so far. 

Fake Mach-O Man Kit apps. Source: ANY.RUN

“Mach-o Man” kit seeks to implement hidden stealer malware

The final stage of the campaign is a stealer designed to extract browser extension data, stored browser credentials, cookies, macOS Keychain entries and other sensitive information from infected devices.

Final staging director for Stealer malware. Source: Any.run

After collection, the data is archived into a zip file and exfiltrated through Telegram to the attackers. Finally, the malware’s self-deletion script removes the entire kit using the system’s rm command, which bypasses user confirmation and permissions when removing files.

The novel malware kit was reconstructed by the security expert through cloud-based malware sandbox Any.run’s macOS analysis capabilities.

Related: CZ sounds alarm as ‘SEAL’ team uncovers 60 fake IT workers linked to North Korea

Earlier in April, North Korean hackers used AI-enabled social engineering schemes to steal about $100,000 worth of funds from crypto wallet Zerion, after gaining access to some team members’ logged-in sessions, credentials and the company’s private keys, Cointelegraph reported on April 15. 

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Magazine: 53 DeFi projects infiltrated, 50M NEO tokens could be ‘given back’: Asia Express