Poloniex Hack Analysis: Suspected Involvement of North Korean Hacking Syndicate Lazarus Group. 💻
The recent hack of Poloniex's hot wallet is believed to have been orchestrated by the North Korean-backed cybercrime organization, Lazarus Group.
X-explore, a market research platform, observed tactics used in the Poloniex hack that closely resembled those employed by the group responsible for breaching Stake.com on September 4, 2023.
Poloniex, owned by Justin Sun, suffered an estimated loss of $114 million after hackers gained unauthorized access to their hot wallets. Following confirmation of the breach by on-chain analysts, Poloniex temporarily disabled its wallet system.
X-explore suggested that the breach of the hot wallet may have occurred due to a "private key leak."
Justin Sun later reported that the Poloniex team successfully identified and froze a portion of the stolen assets, claiming that the losses were within manageable limits and could be covered by the exchange's operational revenue.
