United States - Ekhbary News Agency
In a significant cybersecurity breach over the weekend, hackers absconded with more than $290 million in cryptocurrency from Kelp DAO, a protocol designed to generate yields on idle crypto assets. By Monday, LayerZero, a project impacted by the attack, publicly accused North Korea of orchestrating the heist. This theft has now surpassed the earlier $285 million hack of crypto exchange Drift in April, making it the largest cryptocurrency theft of the year to date.
LayerZero reported that the attackers exploited a vulnerability in its bridge, which facilitates cross-blockchain communication, and subsequently manipulated Kelp DAO's security protocols. The protocol's configuration, which lacked multi-verification for transactions, allowed the hackers to illicitly siphon funds. Preliminary evidence points towards North Korea's notorious hacking group, known as TraderTraitor. North Korean state-sponsored hackers have become increasingly adept at crypto theft, with billions reportedly stolen annually in recent years.
