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Lazarus Group Linked To $200 Million Crypto Laundering Scheme

6M agoā€¢
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Lazarus Group Linked To $200 Million Crypto Laundering Scheme
  • Lazarus Group launders $200 Million in crypto to fund North Koreaā€™s arms, UN claims

According to blockchain investigator ZachXBT, North Koreaā€™s Lazarus Group was implicated in laundering $200 million through cryptocurrency hacks between August 2020 and October 2023.

The group utilized advanced laundering techniques like coin mixers and peer-to-peer exchanges.

ZZachXBTā€™s report revealed that the group masked the origins of stolen funds from over 25 breaches across various blockchain platforms.

See Also: Russia Set to Ban Cryptocurrency Circulation from September 1, Allowing Only Domestic Digital Assets

They predominantly used the Ethereum mixer Tornado Cash and the Bitcoin-based ChipMixer.

Moreover, Lazarus converted substantial amounts of cryptocurrency into fiat currency via peer-to-peer platforms, with linked accounts receiving $44 million.

Usernames ā€œasyGoatfish351ā€ and ā€œairJunco470ā€ were identified as part of these transactions.

The group is known for orchestrating some of the most significant digital heists, with thefts totaling over $3 billion.

The United Nations Security Council claims these funds support North Koreaā€™s weaponry initiatives, underscoring the broader security risks.

#Binance #WRITE2EARN

The post Lazarus Group Linked To $200 Million Crypto Laundering Scheme appeared first on BitcoinWorld.

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