North Korean Hackers Suspected in $100 Million Harmony Heist

Bloomberg Quicktake: Now published this video item, entitled “North Korean Hackers Suspected in $100 Million Harmony Heist” – below is their description.

Suspected North Korean hackers known as the Lazarus Group are believed to be behind the recent $100 million heist on California blockchain Harmony, a firm that tracks stolen cryptocurrency said Wednesday.

Harmony confirmed that its Horizon Bridge, a seamless layer which allows cryptocurrency to move across different blockchains, had been hacked last week.

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It was founded by Michael Bloomberg in 1981, with the help of Thomas Secunda, Duncan MacMillan, Charles Zegar, and a 12% ownership investment by Merrill Lynch.

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A blockchain is a distributed database that is shared among the nodes of a computer network. As a database, a blockchain stores information electronically in digital format. Blockchains are best known for their crucial role in cryptocurrency systems, such as Bitcoin, for maintaining a secure and decentralized record of transactions. The innovation with a blockchain is that it guarantees the accuracy and security of a record of data and generates trust without the need for a trusted third party.

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California, a western U.S. state, stretches from the Mexican border along the Pacific for nearly 900 miles. Its terrain includes cliff-lined beaches, redwood forest, the Sierra Nevada Mountains, Central Valley farmland and the Mojave Desert. The city of Los Angeles is the seat of the Hollywood entertainment industry. Hilly San Francisco is known for the Golden Gate Bridge, Alcatraz Island and cable cars.

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North Korea, officially the Democratic People’s Republic of Korea, is a country in East Asia constituting the northern part of the Korean Peninsula.

Pyongyang is the country’s capital and largest city.

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