29 Apr 2025

light mode

North Korea Accused of Carrying Out the Ronin Crypto Heist

North Korea is once again in the loop. Last week, Virgil Griffith, the former developer at the Ethereum Foundation, was arrested and fined for attending a blockchain conference in Pyongyang in 2019, where he explained how the country could avoid international sanctions.

Now, the internationally ostracized state is being blamed for carrying out one of the biggest crypto heists to date: the Ronin network hack that resulted in a loss of over $600 million in cryptocurrency.

According to the US Treasury Department, the North Korean hacking group Lazarus is behind the attack. The agency has already updated sanctions to include the wallet address that received the funds, amounting to $445 million (148,000 Ethereum), and sent almost $10 million (3,302.6 ETH) to another address less than a day ago.

According to crypto transaction tracker Etherscan, the address is “reported to be involved in a hack targeting the Ronin bridge.”

While the Ronin network, which supports the wildly popular Axie Infinity video game, confirms that the authorities have identified the culprits, it also says: “We are still in the process of adding additional security measures before redeploying the Ronin Bridge to mitigate future risk. Expect the bridge to be deployed by the end of the month. Security comes first. The timeline is subject to change based on the implementation time of several security measures.”

Lazarus group became notorious in 2014 after hacking Sony Pictures, leaking The Interview, a comedy that ridicules the North Korean dictator Kim Jong-un. It also launched malware and ransomware that helped hackers steal millions from ATMs across Asia and Africa.

North Korea allegedly uses cryptocurrency to fund its military and nuclear ambitions. The country, which is living in a bubble and is alienated from the rest of the world, maintains ties mostly with neighboring China and Russia.

Although the Ronin heist took place on March 23, causing a loss of 173,600 Ethereum and 25.5M USDC worth almost $600 million on the Ronin bridge in two transactions, it was only discovered on March 29.

Other big hacks include Wormhole, Poly Network, Coincheck, and Mt Gox.

The content on The Coinomist is for informational purposes only and should not be interpreted as financial advice. While we strive to provide accurate and up-to-date information, we do not guarantee the accuracy, completeness, or reliability of any content. Neither we accept liability for any errors or omissions in the information provided or for any financial losses incurred as a result of relying on this information. Actions based on this content are at your own risk. Always do your own research and consult a professional. See our Terms, Privacy Policy, and Disclaimers for more details.

Articles by this author
Mastercard Brings On-Chain Payments to 150M Merchants

Mastercard Brings On-Chain Payments to 150M Merchants

Mastercard’s infrastructure now supports stablecoin transactions, allowing global merchants to send and receive payments in USDC and compliant digital assets issued by Paxos.

Dmytro Psevdonimenko
Stacks Expands Bitcoin L2 Adoption Efforts in Asia and MENA

Stacks Expands Bitcoin L2 Adoption Efforts in Asia and MENA

The Stacks Foundation is taking Bitcoin L2 mainstream in Asia and the Middle East, supported by new regulatory footholds and an expanding focus on institutional engagement.

Dmytro Psevdonimenko
Tether Gold Secures Q1 Backing Audit With Over 246,000 Ounces of Physical Gold

Tether Gold Secures Q1 Backing Audit With Over 246,000 Ounces of Physical Gold

Tether Gold’s Q1 filing under El Salvador’s financial transparency rules reveals solid physical backing: 246,523 ounces of gold—more than 7.7 tons—now officially attested.

Dmytro Psevdonimenko
U.S. Federal Court Blocks Reinstatement of Tornado Cash Sanctions

U.S. Federal Court Blocks Reinstatement of Tornado Cash Sanctions

OFAC has been barred from reinstating earlier sanctions against crypto mixer Tornado Cash, marking another major win for the blockchain industry in 2025.

Anton Kryshtal
Crypto Talk on X Today: KOLs on BTC and Power Outage in Europe

Crypto Talk on X Today: KOLs on BTC and Power Outage in Europe

On April 28, a power outage hit Spain, Portugal, and parts of France. The blackout disrupted the banking system, but investor Daniel Batten says Bitcoin remained invulnerable.

Anahit Avetisyan
Meet Eric Piscini (Hashgraph): A Blockchain Leader with 25+ Years of Innovation

Meet Eric Piscini (Hashgraph): A Blockchain Leader with 25+ Years of Innovation

CEO of Hashgraph. Tech pioneer. Visionary leader. Eric Piscini’s career is a blueprint for success in blockchain and beyond. Let’s take a closer look at his journey.

Daryna Nesterenko
Crypto Talk on X Today: KOLs on PENGU, BTC Accumulation & More

Crypto Talk on X Today: KOLs on PENGU, BTC Accumulation & More

Pudgy Penguins’ native token PENGU’s 150%+ rise in the last 7 days is among the top crypto discussions on X/Twitter today.

Anahit Avetisyan
Kaia: What Happens When LINE and Kakao Merge into One Blockchain

Kaia: What Happens When LINE and Kakao Merge into One Blockchain

In just half a year, Kaia has quietly racked up 20 million transactions and drawn in over 400,000 active wallets. Built directly into Asia’s most ubiquitous messaging apps, its reach now extends to nearly 300 million users—a bold blueprint for Web3 adoption.

Vlad Vovk
What Is the Next Bitcoin-Like Investment? Key Factors to Consider

What Is the Next Bitcoin-Like Investment? Key Factors to Consider

Explore the critical factors in evaluating the next breakthrough digital asset. Learn how innovation, decentralization, security, and market trends can help spot a Bitcoin-like opportunity.

The Coinomist
What Is Open Interest in Options? Factors to Consider

What Is Open Interest in Options? Factors to Consider

A comprehensive guide on open interest in options trading, explaining its significance, how it differs from volume, and the key factors to consider when using it for strategy.

The Coinomist
ICO Meaning and Its Role in Blockchain Technology

ICO Meaning and Its Role in Blockchain Technology

ICOs let blockchain projects raise capital by selling tokens. Here’s how they work, their benefits, and the risks investors should be aware of.

The Coinomist
Crypto Whale Activity: What It Means for Your Investment Portfolio

Crypto Whale Activity: What It Means for Your Investment Portfolio

Crypto whales can move markets with a single trade. Learn how their actions affect prices—and how to adjust your investment strategy accordingly.

The Coinomist
What Are Covered Calls? Benefits and Risks

What Are Covered Calls? Benefits and Risks

Covered calls let investors earn income from stocks they already own. Learn how the strategy works, when to use it, and what risks to watch out for.

The Coinomist
Bitcoin Still Locked Below $95,000 After Multiple Rejection Points

Bitcoin Still Locked Below $95,000 After Multiple Rejection Points

Despite repeated attempts, Bitcoin remains capped just under $95K. As ETF inflows plateau, investors are left scanning the horizon for potential market triggers.

Anton Kryshtal
Bitcoin Charges Toward $95K as Bulls Strengthen Grip

Bitcoin Charges Toward $95K as Bulls Strengthen Grip

Positive investor sentiment and easing U.S. trade war tensions propel Bitcoin toward $95,000, setting the stage for a possible rally to $100,000.

Anton Kryshtal
MORE
Eternal Lines: Why Preserve Books on the Blockchain?

Eternal Lines: Why Preserve Books on the Blockchain?

As information becomes increasingly vulnerable to censorship, people are searching for new ways to preserve it reliably. One such solution is blockchain, which allows for the creation of permanent archives.

Iaroslava Kramarenko
Bitcoin Education Goes Academic: Inside the First Online Master’s Program

Bitcoin Education Goes Academic: Inside the First Online Master’s Program

You’ve heard of HODLing. Now imagine studying it. Spain’s University of the Hespérides is offering the world’s first Master’s in Bitcoin — and it’s more radical than you think.

Elina Moskovchuk
MORE