This would mark the first major crypto theft publicly attributed to Lazarus Group since the $100 million exploit of Horizon Bridge in June 2022. Elliptic has attributed this incident to North Korea’s Lazarus Group, which is believed to have stolen over $2 billion in cryptoassets across multiple thefts. We are tracking well over 5,500 crypto wallets believed to have been compromised in the attack. Garantex was sanctioned by the US Department of the Treasury in April 2022 for its role in laundering the proceeds of ransomware and darknet markets.