The Lazarus Group is allegedly responsible for the $622 million Axie Infinity hack last month, one of the largest DeFi hacks to date, where the Ronin network was breached to access the funds.
While the wallet address suspected to be behind the attack has been known since the day of the attack, the U.S. Treasury Department tied the wallet address to North Korea's Lazarus Group on Thursday and sanctioned the funds by adding the address to the Office of Foreign Assets Control’s Special Designated Nationals List.
Blockchain analytics firms Chainalysis and Elliptic have both confirmed that the wallet address listed by OFAC is the same one used in the attack. Elliptic also stated that its analysis “indicates that the attacker has managed to launder 18% of their stolen funds as of April 14.”
Sky Mavis, the owner of Axie Infinity, has pledged a $150 million funding round led by Binance to reimburse users who suffered the attack, with the goal of recovering all stolen funds over the next two years. It also stated that the company is “still in the process of adding additional security measures before redeploying the Ronin Bridge to mitigate future risk,” and to “expect the bridge to be deployed by end of month.”